The EURUSD price’s bullish rally stopped at the bullish channel’s resistance line that appears on the chart, to start providing bearish rebound signals from there, and according to the trading rules inside the channels, the price is on its way to build bearish wave that targets visiting this channel’s support line, located around 1.0820$.
Therefore, we expect to witness negative trades in the upcoming sessions, and breaking 1.0990$ will reinforce the expectations to decline, noting that breaching 1.1035$ will stop the suggested negative scenario and push the price to resume the main bullish trend again.
The expected trading range for today is between 1.0920$ support and 1.1070$ resistance.
Trend forecast: Bearish
Origin: Economies
