The EURUSD pair declined strongly yesterday evening affected by Janet Yellen’s statements following the FOMC rate decision, to confirm breaking the intraday bullish channel and return to the negative pressure again, which makes us prefer targeting the psychological barrier at 1.2000 as a main target in the upcoming period.
The EMA50 forms negative pressure that reinforces the downside track expectations, which will remain valid unless breaching 1.2420 then 1.2490 levels and holding above them.
Expected trading range for today is between: 1.2200 support and 1.2420 resistance.
Expected trend for today: Bearish