The price of the EUR/USD was predicted to reach $1.02975 following a successful bullish breakout to the upside in a previous forecast. Bulls and bears were unable to move the price to higher or lower levels during the initial indecisive candle. Inside the body of the preceding candle, a little bullish indecisive candle has developed.
EUR/USD dropped lower on Tuesday, shattering the narrow range it had developed over the previous week. It was a modest indication that the price was about to decline. However, the price reverted to being inside the range the following day. A false breakout occurred. Target on the downside remains at $0.99134 as strong support that will prevent the price from moving lower in the future. At $0.99134, there is a convergence of support that strengthens the demand zone and prevents the price from falling further.
The purpose remains the same since the price is constant from the previous week. We must wait for the price to break the range it is currently trading in before responding. On the upside, we have $1.03600 as a bullish target; to reach this level, the price must rise above $1.02660
As solid support that will stop the price from any further losses, the lower-bound target price remains at $0.99134. At $0.99134, there is a confluence of support that strengthens the demand zone and prevents the price from falling further.
