EURUSD affected by the negative momentum – Analysis - 03-09-2018
The EURUSD pair ended last week with strong decline after 1.1705 formed solid resistance barrier against the price’s recent positive attempts, affected by the negative momentum that appears through stochastic, noticing that the indicator gets rid of its negative momentum and heads towards the oversold areas, waiting to assist to push the price to rise again.
Until now, the bullish trend scenario still valid as long as the price is above 1.1554, noting that breaking this level will push the price to keep declining and test 1.1443 level as a next station, while the price needs to breach 1.1705 to confirm opening the way to head towards our next main target that reaches 1.1975.
Expected trading range for today is between 1.1500 support and 1.1705 resistance.
Expected trend for today: Bullish
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