The EURUSD pair shows some slight bullish bias to recover some of the recently suffered losses, noticing that stochastic loses its positive momentum gradually accompanied by the price approach from the EMA50, to keep the negative scenario valid for the upcoming period, which targets testing 1.1679 level mainly.
It is important to monitor the price behavior when reaching 1.1679 level, as we witness signs of bearish pattern that its confirmation line located at the mentioned level, which means that breaking it will put the price under strong negative pressure that targets 1.1423 areas direct, while the expected bearish bias will remain valid unless the price managed to breach 1.1850 and hold with a daily close above it.
Expected trading range for today is between 1.1679 support and 1.1850 resistance.
Expected trend for today: Bearish