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The EURUSD is recovering - 03-05-2023
The EURUSD pair continued to rise to breach 1.1000 level and settles above it, reinforcing the chances of continuing the bullish trend in the upcoming sessions, to head towards testing 1.1075 level as a first positive station, noting that breaching this level will push the price to achieve additional gains that reach 1.1150.
Therefore, we expect to witness more rise on the intraday and short term basis, waiting to get positive momentum that assists to push the price to achieve the suggested targets, taking into consideration that breaking 1.1000 will stop the current rise and press on the price to test 1.0945 level again.
The expected trading range for today is between 1.0960 support and 1.1120 resistance.
The expected trend for today: Bullish
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MoreEvening update analysis for the EURUSD 02-05-2023
The EURUSD pair found solid support at 1.0945 level, to rebound upwards clearly and hint heading to regain the main bullish trend again and stop the bearish correction, which urges caution from the upcoming trading, as surpassing 1.1000 and holding above it will provide more support to the chances of continuing the rise in the upcoming sessions, while breaking 1.0945 will press on the price to achieve additional bearish correction that targets 1.0860 as a next negative station.
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