The EURUSD loses momentum – Analysis - 08-04-2020
Economies.com
2020-04-08 04:59AM UTC
The EURUSD pair begins today with bearish bias to approach the key support 1.0840, as the EMA50 formed good negative pressure against the price, while stochastic provides negative signals on the four hours’ time frame.
Therefore, these factors encourage us to suggest the domination of the negative trades in the upcoming sessions, and the price needs to break the mentioned support to confirm opening the way to head towards 1.0700 followed by 1.0640 levels as next main targets, noting that breaching 1.0966 will stop the suggested negative scenario and push the price to achieve additional gains that reach 1.1067.
The expected trading range for today is between 1.0750 support and 1.0950 resistance.
The expected trend for today: Bearish
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