EURUSD under the negative pressure – Analysis - 18-12-2017
The EURUSD pair ended last Friday's trades with clear negativity to settle below the EMA50, moving inside minor bearish channel that appears on the above chart, which supports the chances of continuing the bearish bias in the upcoming sessions, and the target is testing the key support 1.1679.
Therefore, we suggest witnessing more negative trades today, being aware that we need to monitor the price behavior when reaching the targeted level, as breaking it will push the price to extend the correctional bearish wave towards 1.1423 as a next main station, while breaching 1.1840 represents the key to stop the current negative pressure and the price return to the main bullish track again.
Expected trading range for today is between 1.1670 support and 1.1840 resistance.
Expected trend for today: Bearish
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