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EURUSD begins to recover-Analysis-23-05-2025
The (EURUSD)rose in its last intraday trading, taking advantage of the stability of the critical support at 1.1265, which formed a rising base that helped the price to bounce higher, accompanied by the continuation of the dynamic support that comes from the trading above its EMA50, which indicated the positive momentum.
The main bullish trend remains the dominant on the short-term basis, with the trading alongside a supportive minor bias line, noticing the beginning of forming positive divergence on the (RSI), after reaching exaggerated oversold levels, reinforcing the possibilities for the continuation of the rise in the upcoming sessions if the technical signals confirmed.
Therefore, our expectations suggest more of the upside movements in (EURUSD) prices in the upcoming intraday trading, if the support settles at 1.1265, to target the resistance at 1.1380.
The expected trading range is between 1.1230 support and 1.1360 resistance.
Today’s forecast: Bullish
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