The EURUSD touches the first target – Analysis - 18-01-2021
Economies.com
2021-01-18 04:56AM UTC
The EURUSD pair succeeded to touch our first waited target at 1.2064 and settles there, expecting to break this level and open the way to visit 1.1975 that represents our next correctional target, depending on the completion of the head and shoulders’ pattern that its signs appear on the chart, supported by the negative pressure formed by the EMA50.
Therefore, we will continue to suggest the bearish trend for the upcoming period, taking into consideration that failing to break 1.2064 will push the price to attempt to recover and achieve intraday gains that start at 1.2125 followed by 1.2173.
The expected trading range for today is between 1.1980 support and 1.2125 resistance.
The expected trend for today: Bearish
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