The EURUSD tests the resistance – Analysis - 04-05-2021
Economies.com
2021-05-04 00:28AM UTC
The EURUSD pair settles below 1.2064 level, to keep the negative pressure valid until now, noticing that stochastic reaches the overbought areas, to support the chances of resuming the expected bearish trend for the upcoming period, which target 1.1975 level as a next station.
The EMA50 supports the expected decline, noting that breaching 1.2064 and holding above it will stop the negative scenario and lead the price to achieve additional gains that reach 1.2170.
The expected trading range for today is between 1.1970 support and 1.2120 resistance.
The expected trend for today: Bearish
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