EURUSD Price Analysis

The EURUSD price shows weak trades since morning, and continues to move around the 1.0765$ level. It needs to trade below this level to revive the expected bearish trend scenario for the upcoming period, with its next target located at 1.0645$.

• The technical indicators provide negative signals that support the expected bearish trend. However, settling above 1.0765$ will lead the price to build an intraday bullish wave, with its first target located at 1.0860$.

The expected trading range for today is between 1.0680$ support and 1.0840$ resistance.

Trend forecast: Bearish

Expected Scenarios:

1. The EURJPY pair lost negative momentum yesterday.
2. Stochastic rally towards overbought areas forced a postponement of the negative attack.
3. Positive rebound formed towards 163.35 as seen on the chart.
4. Main stability below 164.30 resistance and continuous additional barrier at 163.72 suggest waiting to gather negative momentum again.
5. Renewal of previously suggested negative attack expected.
6. Initial targets located near 162.65 and 162.15 levels.

Expected Trading Range:

• The expected trading range for today is between 163.60 and 162.65.

Trend forecast: Bearish

Expected Scenarios:

1. The GBPJPY pair formed sideways trades after facing the 190.15 level.
2. Attempts to resume the negative attack were hindered, with stability near the 190.70 level.
3. Attempting to gather additional negative momentum to confirm continuation of negativity for upcoming trading.
4. Importance of settling below the initial barrier at 190.80.
5. Stochastic fluctuation near 20 level increases chances of attacking the mentioned obstacle.
6. Breaking the barrier will open the way to resume the negative attack.
7. Expectation of reaching 189.55 soon, followed by attempting to test the next support at 189.05.

Expected Trading Range:

• The expected trading range for today is between 191.00 and 190.15.

Trend forecast: Sideways

Expected Scenarios:

1. The EURCHF pair confirms keeping the main bullish track.
2. New close is provided above the additional support at 0.9690.
3. Stochastic positive momentum signals are observed.
4. A strong positive rally was formed yesterday, reaching 0.9785.
5. Major indicators continue to provide positive momentum.
6. Expectation of a bullish rebound and targeting 0.9810 soon.
7. Attempt to press on 0.9845 resistance to resume positivity in the upcoming period.

Expected Trading Range:

• The expected trading range for today is between 0.9745 and 0.9810.

Trend forecast: Bullish