The EURUSD achieves some bearish correction – Analysis - 05-10-2021
Economies.com
2021-10-05 04:11AM UTC
The EURUSD pair provided positive trades yesterday but it stopped at 23.6% Fibonacci correction level for the decline measured from 1.1909 to 1.1563, noticing that the price bounced bearishly from there, as the EMA50 meets this level to add more strength to it, while stochastic shows clear negative signals now.
Therefore, we believe that the chances valid to resume the main bearish trend, which its next target located at 1.1500, noting that breaching 1.1645 will lead the price to achieve more bullish correction that its targets extend to 1.1695 followed by 1.1775.
The expected trading range for today is between 1.1520 support and 1.1650 resistance.
The expected trend for today: Bearish
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