The EURUSD faces solid resistance – Analysis - 07-12-2020
Economies.com
2020-12-07 05:00AM UTC
The EURUSD pair faced strong resistance at 1.2175, to show some temporary bearish bias, noticing that stochastic got rid of its negative momentum to reach the oversold areas, while the EMA50 continues to support the price from below.
Therefore, these factors encourage us to suggest resuming the bullish trend in the upcoming sessions, noting that our next target reaches 1.2300, while achieving it requires holding above 1.2040.
The expected trading range for today is between 1.2050 support and 1.2240 resistance.
The expected trend for today: Bullish
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