The Euro is heading towards extended targets - analysis - 08-02-2018

The EUR / USD pair broke the 1.2300 level after closing the daily candlestick below it, reinforcing expectations for a bearish correction, with the next target at 1.2226, with a reminder that breaking this level will press the price to move towards the next correction at 1.2152.

In general, we continue to hold the bearish trend in the coming sessions supported by the negative pressure formed by the SMA 50, unless the price is pushed up to breach the 1.2390 level and stability above it.

The trading range for today is expected among 1.2180 support and 1.2340 resistance

The general trend for today is bearish