The EURUSD approaches the negative target - 06-12-2023
2023-12-06 04:29AM UTC

The EURUSD pair settles around 1.0800 level, and after approaching the waited negative target at 1.0760, the price might head to attempt to build bullish wave on the intraday basis, but it faces intraday negative pressure formed by the EMA50, which makes us prefer to stay aside until we get clearer signal for the next trend.


Note that breaching 1.0860 will push the price to recover and achieve gains that start by visiting 1.0960 level, while breaking 1.0760 support will push the price to suffer additional losses that reach 1.0645 direct.


The expected trading range for today is between 1.0710 support and 1.0880 resistance.


The expected trend for today: Neutral

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