The EURUSD consolidates below the resistance - 23-05-2023
Economies.com
2023-05-23 03:59AM UTC
The EURUSD pair continues to fluctuate near the correctional bearish channel’s resistance, keeping its stability below it until now, while the EMA50 forms continuous negative pressure against the price, to support the continuation of the expected bearish trend for the upcoming period, which its next target located at 1.0730.
Stochastic negativity reinforces the suggested correctional scenario, which will remain valid conditioned by the price stability below 1.0815 and the most important below 1.0865, as breaching the last level will push the price to recover and attempt to regain the main bullish trend again.
The expected trading range for today is between 1.0720 support and 1.0870 resistance.
The expected trend for today: Bearish
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