FX.co ★ Technical Analysis of Intraday Price Movement of EUR/USD Main Currency Pairs, Monday May 27 2024.

With the position of EMA 20 which is above EMA 50 on the 4 hour Fiber chart, it is clear that Buyers are still dominant in the main EUR/USD currency pair, however, the Stochastic Oscillator condition which is at the Oversold level also confirms that in the near future EUR/USD has the potential for a weakening correction to reach the level of the Bullish Fair Value Gap (Cyan) area. If the level of this area is able to withstand the weakening correction from EUR/USD and what is important is that it does not break below level 1,0808, then EUR/USD still has the potential to strengthen again to level 1,0859 as the target first and level 1.0886 as the next target to aim for.

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