The EURUSD pair’s decline that it witnessed on last Friday stopped at 61.8% Fibonacci correction level for the rise measured from 1.1174 to 1.1445, to start recovery attempts now, supported by stochastic positivity, but the EMA50 forms negative pressure that might block the price’s positive attempts.
Therefore, we prefer staying aside until the price confirms surpassing one of the key levels represented by 1.1278 support and 1.1340 resistance, noting that breaking this support will extend the pair’s losses to reach 1.1180 as a next main station, while breaching the resistance will push the price to recover and achieve positive targets that begin at 1.1380 followed by 1.1445.
The expected trading range for today is between 1.1220 support and 1.1400 resistance.
The expected trend for today: Depends on the above mentioned levels
Origin: Economies
