The EURUSD shows some bearish correction – Analysis - 03-08-2020

The EURUSD pair’s declined stopped at 23.6% Fibonacci correction level for the rise measured from 1.1185 to 1.1908, and the price begins today with bullish bias that hints heading to resume the main bullish trend, and it needs to breach 1.1810 to return to the bullish channel and achieve more positive targets in the upcoming sessions.

Therefore, the bullish trend will be expected for today, supported by the positive signals provided by stochastic, waiting to target 1.1995 areas as a next main station, noting that breaking 1.1737 will press on the price to achieve more bearish correction that its next target reaches 1.1632 before any new attempt to rise.

The expected trading range for today is between 1.1700 support and 1.1880 resistance.

The expected trend for today: Bullish