EUR/USD achieves extended target
The EUR/USD opened today’s trading with a strong bearish gap that pushed the price to touch the expected extended target at $1.0220, affected by Trump’s decision to impose tariffs on Canada and Mexico, and the indication of expanding the imposition of tariffs on European Union countries, so that the price falls under expected negative pressures during the coming period, noting that breaking the current areas will push the price to visit the $1.0100 barrier as a next major station.
Therefore, we expect to witness further declines during the coming sessions, noting that failure to break $1.0220 will lead the price to start recovery attempts and head towards testing the $1.0325 level initially.
Expected trading range for today between support $1.0140 and resistance $1.0300
Today’s price forecast: Low
The British pound returns to the descending channel
The price of the British pound against the dollar fell strongly at the beginning of today’s trading to return to the main descending channel, and we expect the bearish trend to continue during the upcoming sessions to visit the $1.2100 level as a next main target.
Expected trading range for today between support $1.2170 and resistance $1.2330
Today’s price forecast: Low
The dollar against the yen recovers
The dollar against the yen price found strong support at the 153.75 level and was unable to break it, to rebound significantly upwards and exceed the 154.96 level, which pushes the price to achieve more gains during the upcoming period, targeting a test of the 156.45 level as a next positive station.
Therefore, the upward trend will be expected in the short and medium term, taking into account that breaking 154.96 will stop the expected rise and pressure the price to decline again.
The expected trading range for today is between support 154.70 and resistance 156.40
Price forecast for today: High
