Forex

The EURUSD reaches the first target – Analysis - 06-08-2020

2020-08-06 03:55:36 GMT (Economies.com)

The EURUSD pair continues to fluctuate below 1.1908 level after finding solid resistance there, to hint potential decline in the upcoming sessions, especially that stochastic shows negative signals, but we notice that the EMA50 continues to provide the positive support to the price, to keep our bullish overview that targets breaching the mentioned level to head towards our next station at 1.1995.

 

On the other hand, we should note that breaking 1.1850 will put the price under additional negative pressure that targets testing 1.1765 – 1.1737 levels before any new positive attempt.

 

The expected trading range for today is between 1.1790 support and 1.1960 resistance.

 

The expected trend for today: Bullish

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