The (EURUSD) price declined lower in its last intraday trading, after surpassing the support of Its EMA50, which formed an extra negative pressure on the price, and that pushed it to break the minor bullish trend on the short-term basis, confirming a bearish bouncing signal.

This decline comes after offloading some of the prices oversold levels on the (RSI), but the return of the negative signals reinforces the possibilities of the continuation of the bearish move in the upcoming movements.

Therefore, our expectations suggest more of the downside movements in (EURUSD) prices in the upcoming intraday trading, if it settles below the 1.1290 level, to target the support level at 1.1140.

The expected trading range is between 1.1140 support and 1.1290 resistance.

Todays forecast: Bearish

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