EURUSD declines calmly – Analysis - 23-10-2017
The EURUSD pair continues to decline calmly on its way towards our main waited target at 1.1679, to keep the bearish trend scenario active for today, supported by the negative pressure provided by the EMA50, being aware that it is important to monitor the price when reaching the mentioned level, which represents 23.6% Fibonacci for the rise measured from 1.0340 to 1.2092, which means that breaking it will extend the bearish wave to target 1.1423 as a next main station.
In general, we suggest the continuation of the bearish trend domination in the upcoming sessions unless the price managed to breach 1.1850 level and hold above it.
Expected trading range for today is between 1.1660 support and 1.1850 resistance.
Expected trend for today: Bearish
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