The EUR/USD pair has successfully broken the $1.0940 level, closing the last four-hour candlestick below this mark. This development reinforces the expectation of a continued bearish trend for the remainder of the day, with the next target set at $1.0880. The completion of a double top pattern further suggests that additional negative targets could extend towards the $1.0780 area.
Maintaining a position below $1.0940 is crucial for sustaining the expected decline. Should the price breach this level, it could lead to a temporary recovery, potentially testing the $1.0990 level before any further attempts to decline.
Today’s anticipated trading range is between a support level of $1.0860 and a resistance level of $1.1000.
Trend Forecast: Bearish
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