The EURUSD reaches the target – Analysis - 07-04-2021
The EURUSD pair managed to reach the thresholds of the waited target at 1.1885 and settles near it, noticing that the price lost its positive momentum, which might press on trades to rebound bearishly again, while the EMA50 attempts to support the price from below.
Therefore, the contradiction between the technical factors makes us prefer stay neutral until we get clearer signal for the next trend, noting that breaching the mentioned level will push the price to achieve additional gains that reach 1.1975 as a next target, while consolidating below it will force the price to decline again to test 1.1780 as a first negative station.
The expected trading range for today is between 1.1780 support and 1.1950 resistance.
The expected trend for today: Neutral
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