EURUSD attempts positively – Analysis - 23-02-2018

The EMA50 managed to form good resistance barrier that stopped the EURUSD pair’s positive attempts that appeared by yesterday’s end, to decline again and settle below the bullish channel’s support line, noticing that the price begins today with bearish bias to push on 1.2304 level, while stochastic provides negative overlapping signal on the four hours’ time frame.

Therefore, these factors encourage us to continue suggesting the bearish trend in the upcoming sessions, noting that our next main target is located at 1.2160, while the expected decline will remain valid unless breaching 1.2330 – 1.2355 levels and holding above them.

Expected trading range for today is between 1.2200 support and 1.2380 resistance.

Expected trend for today: Bearish