Midday update for the EURUSD 26-05-2023
Economies.com
2023-05-26 09:16AM UTC
The EURUSD pair provides additional positive trades to approach the correctional bearish channel’s resistance at 1.0750, and as we mentioned this morning, the price needs to consolidate below this resistance to keep the bearish trend scenario active, supported by stochastic loss to the positive momentum clearly, waiting to trade below 1.0730 again to reinforce the chances of resuming the bearish wave that its next target located at 1.0650.
On the other hand, we should note that breaching 1.0750 will push the price to turn to rise in the upcoming sessions to head towards 1.0795 as a first positive station.
The expected trading range for today is between 1.0640 support and 1.0800 resistance.
The expected trend for today: Bearish
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