The EURUSD pair’s bullish correction stopped at 38.2% Fibonacci correction level at 1.0650, and it couldn’t manage to breach it, to rebound downwards strongly and resume the bearish track, to head towards achieving more expected decline in the upcoming sessions, moving within minor bullish channel that we believe it forms bearish flag pattern.
Therefore, breaking 1.0515 will provide strong negative motive that supports the chances of continuing the negative trades to open the way to achieve additional negative targets that reach 1.0450 followed by 1.0400, noting that breaching 1.0580 will lead the start new recovery attempts.
The expected trading range for today is between 1.0450 support and 1.0600 resistance.
The expected trend for today: Bearish