Midday update for the EURUSD 17-09-2020

The EURUSD pair bounced upwards strongly after reaching few pips away from our waited negative target at 1.1720, to head towards potential recovery trip in case the mentioned level consolidated against the negative pressure, and we expect to visit 1.1900 areas in the upcoming sessions.

Therefore, we prefer staying aside temporarily until the price confirms its next destination clearly, waiting to breach one of the above mentioned levels, noting that breaching 1.1900 resistance will push the price to achieve more gains and visit 1.2011 initially, while breaking 1.1720 support will open the way to extend the bearish wave to reach 1.1540 as a next main target.

The expected trading range for today is between 1.1700 support and 1.1860 resistance.

The expected trend for today: Neutral