EURUSD below the resistance – Analysis - 17-08-2018

The EURUSD pair continues to fluctuate around 1.1380 level since yesterday, and the price keeps its stability below the key resistance 1.1443, which keeps the bearish trend scenario active on the intraday and short term basis, reminding you that the negative effect of the head and shoulders’ pattern still active, waiting to break 1.1300 level to confirm heading towards 1.1181 that represents our next main target.

We should note that breaching 1.1443 might push the price to test the most important resistance to the short term trades at 1.1554 before any new attempt to decline.

Expected trading range for today is between 1.1260 support and 1.1443 resistance.

Expected trend for today: Bearish