Midday update for the EURUSD 25-05-2023

Economies.com
2023-05-25 10:16AM UTC

The EURUSD pair touched 1.0730 and achieved initial break to it, reinforcing the expectations of continuing the bearish trend for the rest of the day, reminding you that our next target is located at 1.0650.

 

The bearish channel continues to organize the suggested bearish wave, which gets continuous support by the EMA50, noting that failing to consolidate below 1.0730 might push the price to achieve intraday gains and test 1.0765 followed by 1.0795 areas before any new attempt to decline.

 

The expected trading range for today is between 1.0650 support and 1.0800 resistance.

 

The expected trend for today: Bearish

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