Forex

The EURUSD surpasses the first target – Analysis - 16-08-2022

2022-08-16 03:25:12 GMT (Economies.com)

The EURUSD pair managed to surpass our first waited target at 1.0200 to confirm extending the bearish wave on the intraday and short term basis, opening the way to head towards 1.0100 that represents our next station.

 

The EMA50 continues to press negatively on the price to support the expectations of continuing the bearish trend, taking into consideration that breaching 1.0200 represents initial key to start recovery attempts that target testing 1.0278 areas initially.

 

The expected trading range for today is between 1.0080 support and 1.0220 resistance.

 

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The expected trend for today: Bearish

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