06.11.202407:49 Forex Analysis & Reviews: Technical Analysis of Daily Price Movement of EUR/USD Main Currency Pairs, Wednesday November 06, 2024.

Relevance up to 23:00 2024-11-19 UTC--5

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If we look at the 4-hour chart of the main currency pair EUR/USD on its daily chart, it can be seen that the price movement is moving below the MA 50 which has a decreasing slope plus confirmation from the SELL crossing of the Stochastic Oscillator indicator which also shows a deviation between the price movement and the indicator, then confirm that Fiber is currently under pressure and weakening where the level of 1.0605 will be the main target at this time to be targeted if this level is successfully broken and closed below that level by EUR/USD then this main currency pair has the potential to continue its weakening to the level of 1,0605 and if the momentum and volatility support then 1.0460 and 1.0329 will be the next targets to be targeted if the momentum and volatility support it, just please note that on its way to the target levels that have been described previously but suddenly EUR/USD turns around and rises up especially if it successfully breaks and closes above the level of 1.1003 then all the weakening scenarios that have been described previously will be invalid and automatically canceled by themselves.

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