The EURUSD begins to recover – Analysis - 22-03-2019

The EURUSD pair touched our waited target exactly at 1.1340 and found solid support there, as this level forms 38.2% Fibonacci correction level for the bullish wave measured from 1.1174 to 1.1445, thus, the price begins attempts to recover and regain the bullish trend again, but it needs to breach 1.1380 to confirm the continuation of the bullish bias in the upcoming period.

Therefore, we prefer staying aside temporarily until we get clearer signal for the next trend, which we will get through breaching 1.1380 resistance or breaking 1.1340 support, noting that breaching this resistance will push the price to achieve positive targets that start at 1.1440 and extend to 1.1550 after breaching the previous level, while breaking the support will extend the bearish wave to target 1.1280 followed by 1.1240 on the near term basis.

The expected trading range for today is between 1.1300 support and 1.1470 resistance.

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