The EURUSD pair opens today’s trading with a bearish bias after the stop of the yesterday trading, due to the holiday of the central banks yesterday, moving away from 1.1050 level, reinforcing the expectations of the bearish trend expectations on the intraday and short term basis, where the negative effect of the head and shoulders pattern keeps pushing on the price to achieve more downside moves.
Therefore, we will keep the bearish trend scenario in the upcoming sessions, reminding you that the main waited targets begin at 1.0800 and extend to 1.0645, pointing that holding below 1.1050 represents main condition for achieving the suggested targets.
Expected trading range for today is between 1.0800 support and 1.1050 resistance.
Expected trend for today: Bearish