The EURUSD loses momentum – Analysis - 05-07-2021
Economies.com
2021-07-05 04:10AM UTC
The EURUSD pair trades positively to test the bearish channel’s resistance that appears on the chart, noticing that stochastic loses its positive momentum clearly to reach the overbought areas, waiting to motivate the price to resume the expected bearish trend on the intraday and short term basis, which its next target located at 1.1780.
The EMA50 supports the expected decline, which will remain valid unless the price rallied to breach 1.1888 and hold above it.
The expected trading range for today is between 1.1770 support and 1.1900 resistance.
The expected trend for today: Bearish
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