The EURUSD reaches the extended negative targets – Analysis - 17-06-2021

The EURUSD pair reached few pips away from our extended target at 1.1976, as the pair continued its strong decline yesterday, noticing that the price begins to rebound bullishly and hint the beginning of recovery attempts on the intraday basis, supported by stochastic positivity, to suggest testing 1.2064 level initially, noting that breaching this level will push the price to 1.2170 as a next positive target.

Therefore, the bullish bias will be expected for today unless breaking 1.1976 and holding below it, as breaking this level will put the price under more negative pressure that targets 1.1888 level as a next negative station.

The expected trading range for today is between 1.1940 support and 1.2100 resistance.

The expected trend for today: Bullish