EURUSD awaits the confirmation – Analysis - 18-08-2017

The EURUSD pair continues to fluctuate within sideways track without managing to confirm surpassing any of the key levels represented by 1.1724 support and the resistance line that declines now to 1.1800, which makes us continue with our neutrality until now, noting that the contradiction between stochastic positivity and the EMA50 negativity provides another reason for neutrality.

We remind you that breaking the mentioned support will push the price for more bearish correction that its next target located at 1.1608, while breaching the resistance will lead the pair to resume the main bullish trend that its main targets begin at 1.1911 and extend to 1.2040.

Expected trading range for today is between 1.1608 support and 1.1850 resistance.

Expected trend for today: Depends on the above mentioned levels