The EURUSD completes negative pattern – Analysis - 02-06-2022

Economies.com
2022-06-02 04:05AM UTC

The EURUSD pair ended yesterday with strong negativity to break 1.0670 level and settles below it, and by taking a deeper look at the chart, we find that the price completed forming negative pattern that supports the chances of continuing the decline in the upcoming sessions, paving the way to head towards 1.0550 as a main negative target.

 

Therefore, the bearish bias will be suggested for today supported by moving below the EMA50, noting that breaching 1.0670 and holding above it will reactivate the correctional bullish scenario again.

 

The expected trading range for today is between 1.0550 support and 1.0700 resistance.

 

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The expected trend for today: Bearish

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