The EURUSD faces solid resistance – Analysis - 02-10-2020

The EURUSD pair finds difficulty to surpass the bearish channel’s resistance that appears on the chart, to fluctuate at the key support 1.1720, noticing that stochastic attempts to gain the positive momentum on the intraday basis, waiting to motivate the price to resume the expected bullish wave for the upcoming period.

Until now, the bullish trend scenario still active as long as the mentioned support remains intact, as breaking it will press on the price to return to the correctional bearish track that its next target located at 1.1540, while the price needs to breach 1.1775 to ease the mission of heading towards the main positive target at 1.2011.

The expected trading range for today is between 1.1660 support and 1.1830 resistance.

The expected trend for today: Bullish