The EURUSD starts bullish correction – Analysis - 05-05-2022
Economies.com
2022-05-05 04:18AM UTC
The EURUSD pair rallied upwards strongly yesterday affected by the FOMC rate decision, to breach 1.0580 level and starts bullish correction for the decline that started from 1.0936 areas, on its way to achieve additional gains that reach 1.0700 followed by 1.0760.
Therefore, the bullish bias will be suggested for today, and breaching 1.0650 will ease the mission of achieving the suggested targets, noting that breaking 1.0580 and holding below it will press on the price to return to the main bearish track again.
The expected trading range for today is between 1.0560 support and 1.0710 resistance.
The expected trend for today: Bullish
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