The EURUSD reaches the target – Analysis - 22-09-2020

The EURUSD pair succeeded to reach few pips away from our waited target at 1.1720, showing some slight bullish bias affected by stochastic positivity, noticing that the price moves inside the bearish channel that appears on the chart, which supports the chances of surpassing the mentioned level and open the way to head towards the next correctional level that reaches 1.1540.

Therefore, we expect the continuation of the bearish bias in the upcoming sessions, supported by the negative pressure formed by the EMA50, noting that the expected decline will remain valid unless the price rallied to breach 1.1860 followed by 1.1910 levels and hold above them.

The expected trading range for today is between 1.1670 support and 1.1840 resistance.

The expected trend for today: Bearish