EURUSD achieves intraday gains – Analysis - 23-07-2018

The EURUSD pair showed more bullish bias in the previous sessions to test the key resistance at 1.1750, which represents the symmetrical triangle’s resistance that confines the recent trades as appears on the chart, noticing that the EMA50 meets this level to add more strength to it, while stochastic loses its positive momentum gradually.

Therefore, these factors encourage us to suggest the bearish rebound from the current areas to resume the overall bearish trend, which its main targets begin at 1.1554 and extend to 1.1443, taking into consideration that breaching 1.1750 – 1.1780 levels will stop the expected decline and lead the price to return to the main bullish trend again.

Expected trading range for today is between 1.1630 support and 1.1800 resistance.

Expected trend for today: Overall Bearish