The EURUSD attempts to recover – Analysis - 21-12-2021

The EURUSD pair traded with clear positivity yesterday to move above the previously broken support line, which rises now to 1.1275, but we notice that the EMA50 forms negative pressure against the price to hinder the attempts to achieve more gains, accompanied by witnessing clear negative signals by stochastic.

Therefore, these factors encourage us to suggest the bearish bias for today, noting that the main waited target reaches 1.1150, while breaching 1.1290 represents positive factor that will lead the price to achieve additional gains that reach 1.1375 before any new attempt to decline.

The expected trading range for today is between 1.1190 support and 1.1340 resistance.

The expected trend for today: Bearish