EURUSD approaches from the retest level – Analysis - 31-10-2017

The EURUSD pair crawls upwards gradually to approach from retesting 1.1679 level, accompanied by stochastic losing the positive momentum and reach the overbought areas, while the EMA50 meets the mentioned resistance to add more strength to it.

Therefore, these factors encourage us to continue suggesting the bearish trend in the upcoming period, affected by the head and shoulders' pattern completion that appears on chart, waiting to target 1.1423 level as a next main station, taking into consideration that breaching 1.1679 level will stop the expected decline and lead the price to start recovery attempts and regain the main bullish trend again.

Expected trading range for today is between 1.1540 support and 1.1700 resistance.

Expected trend for today: Bearish