The EURUSD pair found solid resistance at 1.1975 level, to trade with clear negativity and break the intraday bullish channel’s support line that appears on the chart, which we believe it forms bearish flag pattern that supports the chances to return to the bearish track again, and we expect testing 1.1888 initially.
Therefore, the bearish bias will be expected for today, supported by the negative pressure formed by the EMA50, which we expect to assist to break the targeted level followed by opening the way to head towards 1.1780 as a next negative station, taking into consideration that breaching 1.1975 will stop the expected decline and lead the price to achieve new gains.
The expected trading range for today is between 1.1840 support and 1.1980 resistance.
The expected trend for today: Bearish