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EURUSD Continues Bearish Momentum, Eyes Further Decline

by Daisy

The EURUSD pair has shown little significant movement in recent sessions, continuing to hover around the EMA50, while staying beneath the dominant bearish trend line visible on the chart. This suggests the continuation of the bearish trend in the near term, with the pair poised to test the 1.0220 support level initially. A break below this level could extend the decline toward 1.0100 as the next negative target.

However, if the pair breaks above 1.0325, the bearish outlook will be invalidated, and a bullish correction may begin, with the first target set at 1.0455.

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Today’s expected trading range is between the 1.0210 support and 1.0350 resistance levels.

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Trend Forecast: Bearish

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