The EURUSD draws negative pattern – Analysis - 18-01-2022
Economies.com
2022-01-18 05:19AM UTC
The EURUSD pair settled below the intraday bullish channel’s support line, noticing that it forms potential double top pattern, which might press on the price to break 1.1375 level and return to the main bearish track again.
Therefore, we prefer to stay aside until we get clearer signal for the next trend, noting that breaking 1.1375 will press on the price to decline towards 1.1300 initially, while breaching 1.1430 represents the key to reactivate the bullish trend scenario that its next targets located at 1.1500 followed by 1.1560.
The expected trading range for today is between 1.1300 support and 1.1490 resistance.
The expected trend for today: Neutral
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