The EURUSD pair provided negative trades yesterday, and the EMA50 is forming continuous negative pressure against the price, and by taking a deeper look at the chart, we find that the price is forming head and shoulders’ pattern that its confirmation line located at 1.0890, thus, breaking this level will push the price to achieve strong decline that surpassed 1.0860 to reach 1.0765 as a next negative station.
Therefore, we suggest witnessing bearish bias in the upcoming sessions, noting that breaching 1.0960 followed by 1.0995 levels will cancel the suggested negative formation and lead the price to recover and turn to rise.
The expected trading range for today is between 1.0840 support and 1.0995 resistance.
The expected trend for today: Bearish
Origin: Economies
