4
The EUR/USD pair is under significant negative pressure, testing the $1.1100 level and nearing the bullish channel’s support line, signaling caution for upcoming trades. A continued decline, particularly if the price breaks below $1.1060, would invalidate the recent bullish outlook, shifting the pair back to a correctional bearish trend.
At this point, it is advisable to wait for confirmation—either a break below $1.1060, which would push the price towards the next targets at $1.0990 and $1.0940, or a breach of the $1.1100 resistance, which would revive the bullish scenario, with the first target at $1.1200.
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The expected trading range for today is between $1.1040 support and $1.1170 resistance.
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Trend Forecast: Neutral
