The EURUSD pair attempted to break 1.0960 but it couldn’t manage to hold below it until now, to remain confined between this support and 1.0995 resistance, thus, we will continue with our neutrality until the price manages to confirm surpassing one of these levels to detect its next destination clearly.
Note that breaking the support will push the price to resume the negative trades and head towards 1.0860 initially, noting that reaching this level will complete forming head and shoulders’ pattern that has negative targets that surpass the mentioned level to reach 1.0765 followed by 1.0645 levels, while breaching the resistance represents the key to resume the bullish wave on the short-term basis, to head towards testing 1.1080 areas initially.
The expected trading range for today is between 1.0870 support and 1.1050 resistance.
The expected trend for today: Neutral
Origin: Economies
