The EURUSD price trades negatively since yesterday, and by taking a deeper look at the chart, we find that the price formed head and shoulders’ pattern that its confirmation line located at the current areas around 1.0385$, thus, breaking this level will push the price to continue the decline and achieve our negative targets that start at 1.0325$ and extend to 1.0220$ after breaking the previous level.

 

Therefore, we will continue to suggest the bearish trend for the upcoming period, taking into consideration that breaching 1.0455$ will stop the expected decline and lead the price to achieve bullish correction on the intraday and short-term basis.

 

The expected trading range for today is between 1.0300$ support and 1.0455$ resistance

 

Trend forecast: Bearish