The (EURUSD) price rose in its last intraday trading, depending on the stability of 1.1670 support, which was an expected target in our previous analysis, providing bullish momentum that helped it to recover some of its previous losses, accompanied by offloading the clear oversold conditions on the relative strength indicators, especially with the emergence of positive overlapping signals that support the temporary recovery chances.
Despite this intraday improvement, the negative pressures remain valid amid the trading below EMA50, reinforcing the stability and dominance of the bearish corrective trend on short-term basis, making any upward move vulnerable to testing nearby resistance levels unless they are decisively breached.
Therefore, we suggest a decline in (EURUSD)price’s upcoming intraday trading, if 1.1750 resistance settles, to target 1.1670 support preparing to break it.
The expected trading range is between 1.1650 support and 1.1750 resistance.
Today’s forecast: Bearish
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