The EURUSD begins negatively – Analysis - 27-05-2020

The EURUSD pair ended yesterday above 1.0966 level, which is considered a positive signal that supports heading to visit the next correctional level at 1.1067, but we notice that the price begins today with clear negativity to move below the breached level, supported by stochastic negativity, to fall under potential negative pressure that might press on the price to return to the bearish track again, especially after recording descending top yesterday.

Therefore, this contradiction between the technical factors makes us prefer staying neutral until the price confirms its situation according to 1.0966 level, as consolidating above it will push the price to 1.1067 as a next positive target, while failing to hold above it will press on the price to head towards 1.0840 initially.

The expected trading range for today is between 1.0860 support and 1.1060 resistance.

The expected trend for today: Neutral