The EURUSD surpasses the target – Analysis - 05-03-2021

Economies.com
2021-03-05 05:16AM UTC

The EURUSD pair managed to confirm breaking 1.1976 after closing the daily candlestick below it, which supports the continuation of the bearish trend on the intraday and short-term basis, paving the way to head towards 1.1888 that represents the next correctional target.

 

Therefore, the bearish trend will remain dominant in the upcoming sessions, supported by the negative pressure formed by the EMA50, noting that breaching 1.1976 and holding above it will push the price to start recovery attempts that target testing 1.2064 areas initially.

 

The expected trading range for today is between 1.1880 support and 1.2020 resistance.

 

The expected trend for today: Bearish

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