📊TECHNICAL ANALYSIS ON 4-HOURS TIMEFRAME
The EURUSD pair didn’t show any strong move since morning, to continue fluctuating around the EMA50, thus, no change to the expected bearish trend scenario for today, which depends on the formation of the double top pattern that appears on the chart, which targets breaking 1.0640 to open the way to head towards 1.0540 followed by 1.0450 levels, noting that the consolidation of 1.0640 level against the current negative pressure will push the price to attempt to build bullish wave on the intraday basis. The expected trading range for today is between 1.0580 support and 1.0740 resistance.
📊QUICK FUNDAMENTAL LOOK
Euro rose in European trade on Thursday against a basket of major rivals, maintaining gains for the second day against the dollar following bullish remarks from ECB officials. Such remarks boosted the odds of another European interest rate hike and hurt chances of an early interest rate cut next year.
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