The EURUSD faces solid resistance – Analysis - 04-08-2022
1 year ago

The EURUSD pair finds difficulty to breach 1.0200 level, to show new negative trades yesterday and approaches 1.0100 level, noticing that the price rises again in attempt to breach 1.0200 level, reminding you that breaching this level is required to reinforce the continuation of the bullish trend scenario that its next targets located at 1.0278 followed by 1.0355.


Until now, we continue to suggest the bullish trend for the upcoming period conditioned by the price stability above 1.0100, as breaking it will press on the price to resume the main bearish trend within the bearish channel that appears on the chart.



The expected trading range for today is between 1.0100 support and 1.0260 resistance.


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The expected trend for today: Bullish

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