EUR/USD Forecast: Potential Rise Ahead!
Abstract：EUR/USD is staying in consolidation above 1.0759 temporary low and intraday bias stays neutral. Deeper decline is expected as long as 1.0903 resistance holds.
EUR/USD is staying in consolidation above 1.0759 temporary low and intraday bias stays neutral. Deeper decline is expected as long as 1.0903 resistance holds. Fall from 1.1094 is seen as correcting whole up trend from 0.9534. Below 1.0759 will target 1.0515 cluster support, 38.2% retracement of 0.9534 to 1.1094 at 1.0498. On the upside, though, firm break of 1.0903 will bring stronger rebound back to retest 1.1094 high instead.
Last week the price of the currency pair EUR/USD rebounded from the upper boundary of the daily range and dropped. The asset is likely to rebound from the lower boundary, that is, the level of 1.0500 soon. So, lets wait and see when this highly anticipated thing is going to happen.
Silver formed the double top and broke the neckline. Currently, the assets price is about to rebound to the broken level of 24.75. It is likely to rebound from the broken level again, drop, and gain the required support at the level of 22.40.
American stock index S&P500 broke the diamond. The assets price is now remaining at the key level of 4195. Here it would be important to follow the price movements as the asset might either rebound and drop or jump above the broken level. Time will tell what is going to happen next.
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