The EURUSD loses momentum – Analysis - 16-05-2022
The EURUSD pair continues to fluctuate around 1.0405 level and still below it, noticing that stochastic shows overbought signals now, waiting to motivate the price to resume the expected bearish trend for the upcoming period, which its next targets located at 1.0325 followed by 1.0255.
The bearish channel continues to organize the suggested bearish wave, noting that breaching 1.0405 might push the price to achieve intraday bullish correction before turning back to decline again.
The expected trading range for today is between 1.03100 support and 1.0460 resistance.
The expected trend for today: Bearish