The EURUSD begins negatively – Analysis - 03-01-2022

The EURUSD pair provided mixed trades in the previous sessions to test 1.1375 resistance line, but it begins to day with clear decline to head towards the support line that rises now to 1.1305, to keep the price confined between these levels, and we still waiting to surpass one of them to detect the next destination clearly.

The contradiction between the EMA50 positivity and stochastic negativity provides another reason for neutrality, noting that the continuation of the decline and breaking the mentioned support will push the price to resume the main bearish trend that its next target located at 1.1150, while breaching the resistance represents the key to start correctional bullish wave that targets testing 1.1500 followed by 1.1560 levels as main stations.

The expected trading range for today is between 1.1250 support and 1.1420 resistance.

The expected trend for today: Depends on the above mentioned levels