EURUSD breaks the support – Analysis - 10-08-2018

Economies.com
2018-08-10 03:38AM UTC

The EURUSD pair succeeded to break 1.1554 level and closed the daily candlestick below it, to reinforce the expectations of continuing the bearish trend on the intraday and short term basis, opening the way to head towards our next target at 1.1443.

 

Therefore, we will continue to suggest the bearish trend in the upcoming sessions, supported by the negative pressure provided by the EMA50, noting that holding below 1.1554 represents initial condition to continue the expected decline, as breaching it might push the price to test 1.1645 areas initially before any new negative attempt.

 

Expected trading range for today is between 1.1400 support and 1.1600 resistance.

 

Expected trend for today: Bearish

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