The EURUSD pair shows more bullish bias to attempt to breach 1.0960 level, noticing that the price recorded higher lows that might push the price to confirm the breach and turn to rise, while on the other hand, there’re still signs of negative pattern represented by the head and shoulders, which might put the price under additional negative pressure on the intraday and short-term basis.
Therefore, the contradiction between the technical factors makes us prefer to stay aside until we get clearer signal for the next trend, noting that breaching 1.0995 will confirm the continuation of the rise and achieve gains that start at by visiting 1.1080 areas, while breaking 1.0920 support represents the key to return to decline and head towards 1.0860 as a first negative station.
The expected trading range for today is between 1.0870 support and 1.1050 resistance.
The expected trend for today: Neutral
Origin: Economies
