EURUSD Analysis Today
Previous EURUSD forecast mentioned the price could reach $0.96716 as a first support level and that was done on Tuesday. The price reached level and from there we can see indecision candles in the next two days.
The price had indecision on Tuesday and Wednesday which shows sellers and buyers strength to move the price in their direction.
On Thursday we see bulls have managed to push the price to a higher level outside of the indecision area, but the price on Friday returned down.
This shows a false breakout from the indecision area to the upside so we could expect a move to the downside at least to the $0.96716.
Week has ended as an indecision candle, but with a price lower than the open price which shows a bearish weakness.
The daily overview shows that the price could return back down to $0.96716 support level, but there is no clear signal that the price has enough strength to move down below this support level.
We could expect the price to stay for a while next week as this week around this support level $0.96716, which is a key level for sellers.
This means if the price closes below on a daily time frame we will see the price heading down to $0.96000 which is the first support level.
If the price breaks below $0.94861 is the next target.
The bulls need to close the price above $0.98000 as a first step to push the price higher. For now there is no clear signal we could see prices quickly above that level. So it is good to wait until the price makes a clear move in which direction we could see in the next few weeks.
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If you want to know how much pips EURUSD moves each day in a week or how much it moves on London or New York trading session, you should check this article: EUR/USD Pip Range Analysis
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