EURUSD loses momentum – Analysis - 07-11-2017
Economies.com
2017-11-07 04:18AM UTC
The EURUSD pair continues to fluctuate within tight track, noticing that stochastic loses its positive momentum clearly to reach the overbought areas, while the EMA50 keeps pushing negatively on the price.
Therefore, the bearish trend will remain valid and active in the upcoming period, affected by the head and shoulders' pattern that was completed previously by breaking 1.1679 level, reminding you that holding below this level is important to continue the expected decline, which its next main target located at 1.1423.
Expected trading range for today is between 1.1500 support and 1.1690 resistance.
Expected trend for today: Bearish
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