The (EURUSD) price rose in its recent intraday trading, amid the prices trading with a bearish correctional channels range, which indicates the continuation of the negative pressure on the price, and reinforcing the continuation of the trading below the EMA50, besides the continuous bullish signals from the (RSI), especially after the price success to offload some of its previous oversold conditions.

These moves come with price stability below the critical resistance level at 1.1250 that represents 38.2% Fibonacci correction level for the extended bullish wave from 1.0730 to 1.1572.

Therefore, our bearish scenario remains valid in the upcoming intraday trading, if the resistance settles at 1.1250, targeting the support at 1.1150 that represents 50% Fibonacci correction level, preparing for breaking it.

The expected trading range is between 1.1090 support and 1.1250 resistance.

Todays forecast: Bearish

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