The EURUSD under the negative pressure – Analysis - 26-01-2021
Economies.com
2021-01-26 05:38AM UTC
The EURUSD pair ended yesterday below 1.2145 level, starting today with new bearish bias to test the intraday bullish channel’s support line that appears on the chart, which forms potential bearish flag, which means that breaking 1.2120 will put the price under more negative pressure to visit 1.2064 direct.
Now, we prefer staying aside until we get clearer signal for the next trend, which we will get through breaking 1.2120 support or breaching 1.2173 resistance, noting that breaching this resistance will push the price to resume the main bullish trend that its next target located at 1.2300.
The expected trading range for today is between 1.2040 support and 1.2220 resistance.
The expected trend for today: Neutral
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