The EURUSD hits the first target – Analysis - 03-04-2020

The EURUSD pair settles at our first target 1.0840, and the price finds solid support there, but we suggest surpassing this level to open the way to head towards our extended targets that reach 1.0700 followed by 1.0640, as the negative effect of the head and shoulders’ pattern still active.

Therefore, the bearish trend will remain expected for the upcoming period conditioned by the price stability below 1.0966, being aware that it is important to be careful during today’s trading, as the markets waiting for the US employment and payrolls’ data, which might cause high volatility at the markets, especially with the current situations that lead to economies’ harm caused by the global pandemic and the spread of corona virus.

The expected trading range for today is between 1.0640 support and 1.0966 resistance.

The expected trend for today: Bearish