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The EURUSD approaches the target – Analysis - 12-03-2020
The EURUSD pair approached 1.1221 level yesterday, and returns to fluctuate near 1.1325, noticing that stochastic continues to provide the negative signals that support the chances of continuing the correctional bearish pressure in the upcoming sessions, to continue suggesting the bearish trend on the intraday basis, noting that surpassing 1.1221 will extend the bearish wave to reach 1.1136.
Holding below 1.1325 keeps the correctional scenario active, as breaching it will lead the price to regain the main bullish trend that its first target located at 1.1457.
The expected trading range for today is between 1.1200 support and 1.1360 resistance.
The expected trend for today: Bearish temporarily
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The EURUSD pair continues to decline to crawl towards our waited target at 1.1221, to continue suggesting the bearish trend in the upcoming sessions, reminding you that surpassing this level will push the price to 1.1136 direct, while the expected decline will remain valid unless breaching 1.1325 level and holding above it.
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