EURUSD approaches the target – Analysis - 19-11-2018

The EURUSD pair settles around 1.1400 level after the bullish rally that it witnessed in the previous sessions, noting the strength of the targeted resistance level at 1.1443, which might force the price to provide negative trades in the upcoming sessions, as the EMA50 meets this level, besides stochastic reach to the overbought areas.

Therefore, we prefer staying aside temporarily until we get clearer signal for the next trend, noting that breaching 1.1443 will open the way to extend the bullish wave to reach 1.1550 as a next target, while breaking 1.1340 will put the price under negative pressure that target 1.1181 areas again.

Expected trading range for today is between 1.1300 support and 1.1500 resistance.

Expected trend for today: Depends on the above mentioned levels