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HomeCurrenciesEUR/USD Price Forecast – November 22, 2024

EUR/USD Price Forecast – November 22, 2024

The EUR/USD pair tested the minor resistance level at $1.0496 but rebounded downward, maintaining the bearish trend outlook for today. The next primary target is set at $1.0400.

Bearish Momentum Supported by EMA50

The EMA50 continues to bolster the bearish wave, reinforcing the outlook as long as the price remains stable below $1.0496. Any break above this level could weaken the current negative bias.

Trading Range and Trend

Expected Trading Range: Between $1.0390 (support) and $1.0545 (resistance).

Trend Forecast: Bearish.

Traders should monitor the $1.0496 resistance closely while anticipating further declines toward the $1.0400 target, provided the price remains below the critical resistance threshold.

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