EURUSD resumes the decline – Analysis - 20-06-2017

The EURUSD pair bounced lower clearly after retesting the previous broken support of the rising wedge pattern that appears in the image, which makes the price resume its bearish correctional track that its first target at 1.1060, reinforcing the expectations for the continuation of the decline in the upcoming sessions.

Therefore, we will be waiting for more of the negative trading for today supported by the negative pressure that comes from the EMA50, being aware that breaking the targeted level will extend the bearish correctional wave to reach 1.0922 as a next main station, while the expected decline will remain valid unless breaching 1.1210 level and holding above it.

Expected trading range for today is between 1.1060 support and 1.1210 resistance.

Expected trend for today: Bearish