The EURUSD breaks the support – Analysis - 12-08-2020
Economies.com
2020-08-12 04:05AM UTC
The EURUSD pair continued the negative pressure to break 1.1737 level and settles below it, which opens the way for more bearish correction in the upcoming sessions, on its way to visit 1.1632 level that represents 38.2% Fibonacci correction level for the rise from 1.1185 to 1.1908.
Therefore, the bearish bias will be expected for today, supported by the negative pressure formed by the EMA50, noting that the continuation of the suggested decline depends on the price stability below 1.1737.
The expected trading range for today is between 1.1630 support and 1.1800 resistance.
The expected trend for today: Bearish
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