EURUSD around the moving average – Analysis - 11-08-2017
Economies.com
2017-08-11 04:13AM UTC
The EURUSD pair hovers around the EMA50 since yesterday's evening, which forms negative pressure that we expect to assist to push the price to resume the correctional bearish wave, supported by stochastic move at the overbought areas.
Therefore, these factors encourage us to continue suggesting the bearish trend in the upcoming sessions, and the price needs to break 1.1724 level to confirm heading towards 1.1608 as a next main station, taking into consideration that breaching 1.1815 will stop the expected decline and lead the price to regain its main bullish track again.
Expected trading range for today is between 1.1650 support and 1.1825 resistance.
Expected trend for today: Bearish
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