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The EURUSD loses momentum - 21-08-2023
The EURUSD pair fluctuates around 1.0880 level, and attempts to consolidate below it, noticing that stochastic loses its positive momentum to approach the overbought areas, while the EMA50 continues to press negatively on the price.
Therefore, we believe that the chances valid to resume the expected bearish trend for the upcoming period, which its next main target located at 1.0785, taking into consideration that breaching 1.0880 will lead the price to start recovery attempts that target testing 1.0955 before detecting the next trend clearly.
The expected trading range for today is between 1.0790 support and 1.0950 resistance.
The expected trend for today: Bearish
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