The EURUSD pair’s recent trades are confined within bearish pennant that its signs appear on the chart, thus, the price needs to break 1.1800 to activate the negative effect of this pattern followed by rallying to resume the expected bearish trend for the upcoming period, which targets testing the main bullish channel’s support line at 1.1695.
Therefore, we will continue to suggest the bearish trend on the intraday basis, taking into consideration that breaching 1.1850 is considered as the first key to regain the main bullish trend and head to achieve positive targets that start by testing 1.1905 followed by 1.1950.
The expected trading range for today is between 1.1720 support and 1.1880 resistance.
The expected trend for today: Bearish
Origin: Economies
