The EUR/USD resumes the decline – 11/08/2023

forex_news_11The EURUSD pair bounced bearishly after testing 1.1030 level yesterday, to keep the correctional bearish trend valid and active, affected by the double top pattern that supports the chances of achieving negative targets that start at 1.0880 mainly, and extend to 1.0785 after surpassing the previous level.

Breaking 1.0955 is required to ease the mission of achieving the waited targets, while breaching 1.1030 will push the price back to the main bullish channel to head turning back to the main bullish track again.

The expected trading range for today is between 1.0900 support and 1.1040 resistance.

The expected trend for today: Bearish

Origin: Economies

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