EURUSD attempts to offload its overbought condition – Analysis 29-08-2025 – ForexNews.PRO
EURUSD experienced a slight decline in intraday trading, attempting to offload its overbought condition and gain bullish momentum
Price remains supported by trading above EMA50 and minor bullish wave, with expectations of a rise if it settles above 1.1665 resistance
The (EURUSD) declined in its last intraday trading, in a natural profit taking move after its previous rise, attempting to gain bullish momentum that might support it to return to rise again, accompanied by the attempts of the price to offload the clear overbought conditions on the (RSI), after reaching exaggerated high levels.
Despite this slight decline, the price remains supported by its trading above EMA50, besides the dominance of minor bullish wave on the short-term basis, keeping the expectations valid unless it loses its current support levels.
Therefore, our expectations suggest a rise in the (EURUSD) price in its upcoming intraday trading, if it settles above 1.1665 resistance, to target the critical resistance level at 1.1730.
The expected trading range is between 1.1630 support and 1.1730 resistance.
Today’s forecast: Bullish
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