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The EURUSD confirms the break – Analysis - 12-01-2021
The EURUSD pair ended yesterday below 1.2173, to confirm extending the expected correctional bearish scenario on the intraday basis, waiting for more decline to visit 1.2064 that represents the next target.
The EMA50 supports the expected bearish wave, noting that breaching 1.2173 and holding above it will stop the suggested decline and push the price to resume the main bullish trend again.
The expected trading range for today is between 1.2050 support and 1.2200 resistance.
The expected trend for today: Bearish
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Update: The EURUSD settles below the support
The EURUSD pair settles below 1.2173 level after closing the last four hours’ candlestick below it, to support the continuation of the expected bearish trend scenario for the upcoming period, which targets 1.2064 as a next station, reminding you that it is important to hold below 1.2173 to continue the suggested decline.
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