The EURUSD pair ended yesterday below the bearish channel’s resistance that appears on the chart, which puts the price under the negative pressure again, targeting breaking 1.0775 to extend the bearish wave towards 1.0700 as a next station.

Therefore, we expect to witness new negative trades in the upcoming sessions supported by the negative pressure formed by the EMA50, noting that breaching 1.0830 and holding above it will stop the expected decline and lead the price to start new recovery attempts.

The expected trading range for today is between 1.0740 support and 1.0890 resistance.

The expected trend for today: Bearish

The major currencies’ pairs move within tight tracks, affected by the market holiday today, waiting to update the trends and targets expectations for the upcoming period.

The EURUSD pair couldn’t manage to reach 1.0950 level, to rebound downwards strongly and break 1.0855 level and attack 1.0775, to reactivate the negative scenario on the intraday and short term basis, on its way to achieve more expected decline in the upcoming period, noting that breaking the last level will open the way to head towards 1.0700 as a next negative target.

The NZDUSD pair provides additional positive trades but it begins to decline now, noticing that stochastic loses its positive momentum clearly, waiting to motivate the price to resume the bearish trend that its next target located at 0.6690, while holding below 0.6875 represents key condition to continue the expected decline.

The expected trading range for today is between 0.6740 support and 0.6840 resistance

The expected trend for today: Bearish