Midday update for the EURUSD 27-10-2020
Economies.com
2020-10-27 10:38AM UTC
The EURUSD pair presses negatively on the key support 1.1805, and as we mentioned this morning, the price needs to consolidate above this level to keep the positive scenario active for today, as breaking it will put the price under new negative pressure that targets 1.1720 before any new positive attempt.
Until now, the bullish trend scenario still valid for the upcoming sessions conditioned by the price stability above 1.1805, noting that breaching 1.1850 is required to ease the mission of rallying towards the positive targets that start at 1.1900 and extend to 1.2011.
The expected trading range for today is between 1.1750 support and 1.1920 resistance.
The expected trend for today: Bullish
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