Price Analysis: EURUSD
Expected Scenario
The EURUSD price found solid support at the 1.0600$ barrier, rebounding bullishly and hinting at an attempt to recover in the upcoming sessions and halt the recent bearish correction. The next main station is targeted at 1.0715$.
Observing the chart reveals that the mentioned level represents a broken neckline for a double top pattern, with its effect still active, potentially forcing the price to decline again, especially given clear negative signals from technical indicators.
Therefore, preferring to stay aside until clearer signals for the next trend emerge is advisable. Notably, breaking 1.0615$ will likely push the price to resume the bearish wave, targeting additional negative levels at 1.0520$ and 1.0450$. Conversely, breaching 1.0715$ will halt the negative effect of the mentioned pattern and lead to further gains starting at 1.0795$ and extending to 1.0875$.
Expected Outcome
The expected trading range for today is between 1.0590$ support and 1.0770$ resistance.
Trend Forecast: Neutral
Origin: Economies
