Midday update for the EURUSD 05-06-2020
Economies.com
2020-06-05 10:33AM UTC
The EURUSD pair faces negative pressure now to approach testing the key support base 1.1295, and as we mentioned this morning, the price needs to hold above this level to keep the bullish trend scenario active for today, which gets continuous support by the EMA50, waiting to get positive motive that assists to push the price to head towards our next target at 1.1418.
Note that the markets waiting for the unemployment and payrolls’ data from the US economy today, which might cause mixed trades and high volatility, which urges caution from the upcoming trading.
The expected trading range for today is between 1.1260 support and 1.1430 resistance.
The expected trend for today: Bullish
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