26.01.2022
The pair rebounded to the upside after the 1.3460 level formed strong support in front of the descending wave, to test the pivotal resistance 1.3530 now, accompanied by the stochastic loss of positive momentum clearly, while the EMA50 forms continuous negative pressure in front of the price.
Therefore, these factors encourage us to continue suggesting the bearish trend for the upcoming period, whose targets extend to 1.3400, noting that breaching 1.3530 will stop the expected negative pressure and lead the price to start recovery attempts targeting 1.3610 areas initially.
The expected trading range for today is between 1.3410 support and 1.3570 resistance.
The forecast general trend for today: Bearish.
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