EURUSD draws a negative formation – Analysis - 18-06-2018
Economies.com
2018-06-18 05:04AM UTC
The EURUSD pair settles at the key support 1.1553, noticing that the price drew a head and shoulders’ pattern that appears on the chart, its confirmation line is located at the mentioned support, thus, breaking this level will push the price to suffer losses on the short term basis that surpass 1.1443 barrier to reach 1.1181 as a next main station.
Therefore, the bearish trend will remain suggested, supported by the negative pressure formed by the EMA50, unless breaching 1.1705 and holding above it.
Expected trading range for today is between 1.1470 support and 1.1660 resistance.
Expected trend for today: Bearish
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