USDJPY
EURUSD
EURUSD
EUR/USD Price Forecast: Tests nine-day EMA support near 1.1750
Key Takeaways (30s Read)
EUR/USD declines for the fourth consecutive session, testing support near 1.1750.
EUR/USD is trading around 1.1760 during the Asian hours, losing ground for the fourth consecutive session. This declining trend indicates a weakening bullish bias, with the pair testing to break below the lower boundary of the ascending channel pattern. A key support level is emerging near 1.1750, where the nine-day EMA is located. If this level is broken, it may trigger further selling pressure. Investors should closely monitor the ongoing developments.
AI Analyst
AI Opinion
"The current movement of EUR/USD indicates a bearish signal based on technical analysis. The potential to break below the lower boundary of the ascending channel is concerning. Testing this support level may significantly influence market volatility, making it difficult to anticipate a rebound at the 1.1750 EMA. Traders need to carefully handle the situation while considering the impact of upcoming economic indicators and news on their performance."
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