01.07.202405:00 Forex Analysis & Reviews: Forecast for EUR/USD on July 1, 2024

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EUR/USD

The EUR/USD pair kicks off the new week on a cheerful note. The day opened with a gap, and the price reached the Kijun-sen line on the daily chart. The quote is aiming for the June 18th high of 1.0762, and if the euro surpasses this level, it can rise to the target level of 1.0788.

However, this would be a significant distance from the gap, so we expect the price to return below the 1.0724 level, close the gap, and work through the target range of 1.0636/50 in the coming days (if not today).

On the 4-hour timeframe, the price has settled above the balance indicator line, and the Marlin oscillator has settled in the bullish territory. We might expect the price to linger above 1.0724 for a day.

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