FX.co ★ EUR/USD

Hello everyone! It seems like the EURUSD pair is moving indecisively in both directions. A range has formed on the chart and it's holding the price inside like a strong support. However, analyzing the market sentiment, more participants seem to prefer selling the pair. A decline is likely to occur after breaking below the lower boundary of the range, as the price has attempted to break through it several times. Today or tomorrow, the price is expected to start moving downwards. Although I don't rule out the possibility of it happening today. The level at 1.0603 has proven to be strong, similar to the upper boundary level at 1.0888. I anticipate further decline the most, and a sharp upward movement above the level of 1.0691 would indicate a reversal of the downtrend. It is quite likely that buyers will step in at that point to prevent the price from dropping further.