The EURUSD pair navigated a narrow trading band yesterday, largely influenced by the absence of activity in US markets due to holidays. Currently, stochastic indicators show a bearish tilt, poised to potentially drive prices lower in the near future. Analysts anticipate the pair to continue its downward trajectory, eyeing key support levels at 1.0675$ and subsequently 1.0600$.
Supporting this bearish sentiment is the EMA50 indicator, which continues to reinforce expectations of decline, contingent on the pair maintaining stability below the 1.0795$ mark.
Looking ahead, the anticipated trading range remains bounded between support at 1.0660$ and resistance at 1.0800$.
Trend Forecast: Bearish
This projection underscores prevailing market sentiment, emphasizing expectations for a continued downtrend in the EURUSD pair.