EUR/USD currency pair analysis

The EUR/USD pair stabilized around the support level 1.0170, as it breached it slightly and came back to test it again.

We are likely to continue with the bearish scenario, due to the negative signal that comes from the stochastic indicator. Therefore, we may see a drop to the support level 1.0100.

If the price breaks the support level 1.0170, it will start a strong downward movement targeting the 1.0100 level, and then trying to reach the target 1.0000. As for the steadfastness of the support level, it will reactivate the bullish scenario and the price’s attempt to reach the level of 1.0250.

The expected trading range for today is between support 1.0100 and resistance 1.0250.

Support: 1.0170–1.0100–1.0050.

Resistance: 1.0200–1.0250–1.0340.

The forecast general trend for today: bearish.