EUR USD completes the negative pattern – Analysis -25/05/2015

The EURUSD pair ended last week’s trading with strong negativity below 1.1050 level, to stop the recently suggested bullish trend scenario, pushing the price to change the trend to the downside, as the price completed drawing the head and shoulders’ pattern mentioned in our last technical update on last Friday.

Therefore, the bearish trend will be suggested for the upcoming period, and the main targets begin at 1.0800 and extend to 1.0645 that represents the full target of the mentioned pattern, noting that the EMA50 supports the suggested negative overview, which will remain valid and active unless the price managed to breach 1.1050 and the most important 1.1175 and hold above them.

Expected trading range for today is between 1.0850 support and 1.1050 resistance.

Expected trend for today: Bearish