28.06.202409:18 Forex Analysis & Reviews: Hot forecast for EUR/USD on June 28, 2024

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Despite experiencing some fluctuations, the dollar generally remained unchanged. Thus, the market continues to hover around the lower boundary of the range. If the price doesn't move towards the upper boundary soon, conditions may change and the US dollar could sharply rise. Therefore, if the market continues to stay around the current values today, the beginning of the next trading week could mark the start of a movement to strengthen the dollar.

EUR/USD continues to experience a sideways movement around 1.0670/1.0750, which could indicate a process of accumulating trading forces.

On the 4-hour chart, the RSI technical indicator is moving in the lower area of 30/50, thus reflecting bearish sentiment among traders.

Meanwhile, the Alligator's MAs are intertwined in the 4-hour chart, which indicates the stagnant phase.

Outlook

In this case, the optimal tactic is to consider the breakout method when the price breaches one of the boundaries of the horizontal channel. If a definite signal appears during the day period, the pair may show a cohesive direction.

Complex indicator analysis shows unstable readings due to the sideways movement in the short- and intraday periods.

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