EURUSD resumes the decline – Analysis - 08-11-2017
Economies.com
2017-11-08 04:17AM UTC
The EURUSD pair provided clear negative trading yesterday to confirm surpassing 1.1600 level and settles below it, starting today with slight bearish bias affected by stochastic positivity, which loses its bullish momentum gradually to head towards the overbought areas, while the EMA50 continues to push negatively on the price.
Therefore, these factors encourage us to continue suggesting the bearish trend in the upcoming period, which its main target located at 1.1423, while the expected decline will remain valid unless breaching 1.1679 level and holding with a daily close above it.
Expected trading range for today is between 1.1500 support and 1.1680 resistance.
Expected trend for today: Bearish
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