The EURUSD under the negative pressure – Analysis - 02-04-2020
The EURUSD pair ended yesterday below 1.0966 level, confirming the completion of the head and shoulders’ pattern that appears on the chart, as it retested the broken neckline and keeps its stability below it, to keep the negative effect of this pattern active, waiting to head towards 1.0840 as a first negative target.
Therefore, we will continue suggest the bearish trend for the upcoming sessions, noting that breaking the mentioned level will extend the bearish wave to reach 1.0700 followed by 1.0640 as next main stations, while the expected decline will remain active unless the price managed to breach 1.0966 and hold above it.
The expected trading range for today is between 1.0800 support and 1.1000 resistance.
The expected trend for today: Bearish
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