The (EURUSD) witnessed fluctuated moves in its last intraday trading, after its success in offloading the clear oversold conditions on the (RSI), retesting the resistance at 1,1660 level.

Accompanied by the pairs reach to the resistance of EMA50, which has put negative pressure in the price that forced it to decline again, especially with the emergence of negative overlapping signals on the (RSI) after reaching exaggerated oversold levels compared to the price move.

Therefore, our expectations suggest a decline in the (EURUSD) price in its upcoming intraday trading, conditioned by the stability of 1.1660 resistance, to target the critical support level at 1.1585.

The expected trading range is between 1.1585 support and 1.1690 resistance.

Todays forecast: Bearish

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