The (EURUSD) price continues its sideways trading in its last intraday trading, amid the dominance of bearish corrective wave on short-term basis, accompanied by the continuation of the negative pressure due to the continuation of the trading below EMA50, which forms an obstacle against any attempt to rise.

Notice the beginning of negative overlapping signals emergence on relative strength indicators after reaching overbought levels, exaggeratedly compared to the price move, to indicate forming negative divergence that might increase the strength of the pressure in the upcoming period.

Therefore, we suggest a decline in (EURUSD)price’s upcoming intraday trading, if it settles below 1.1800 resistance to target the next support at 1.1730.

The expected trading range is between 1.1730 support and 1.1870 resistance.

Today's forecast: Bearish

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