EUR USD Faces Resistance

The EURUSD pair fluctuates around the EMA50 now, settling below the bearish channel’s resistance that appears on the chart, noticing that stochastic loses its positive momentum gradually.

Therefore, these factors encourage us to suggest the bearish bias in the upcoming sessions, which its targets begin at 1.1780 and extend to 1.1700 after breaking the previous level, noting that holding below 1.1830 is important to continue the expected decline.

The expected trading range for today is between 1.1740 support and 1.1888 resistance.

The expected trend for today: Bearish