EURUSD draws a positive pattern – Analysis - 16-10-2018
Economies.com
2018-10-16 04:19AM UTC
The EURUSD pair continues to fluctuate within sideways track since yesterday, and by taking a deeper look at the chart, we find that the price draws an inverted head and shoulders’ pattern that appears on the minor image, which means that breaching 1.1615 will activate the positive effect of this pattern and push the price to resume the bullish trend on the intraday and short term basis, noting that the positive targets begin at 1.1705 and extend to 1.1800.
Therefore, we will continue to suggest the bullish trend in the upcoming sessions conditioned by the price stability above 1.1525.
Expected trading range for today is between 1.1500 support and 1.1680 resistance.
Expected trend for today: Bullish
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