EURUSD faces negative pressure – Analysis - 05-02-2019

The EURUSD pair faces continuous negative pressure to move below 1.1443 now, as the negative effect of stochastic continues to press on the price, while the EMA50 attempts to protect the price from suffering losses, thus, the contradiction between the technical factors makes us prefer staying aside until we get clearer signal for the next trend.

Note that the continuation of the decline and breaking 1.1370 will put the price under strong negative pressure that pushes trades towards 1.1181 direct, while breaching 1.1443 and holding above it again will reactivate the bullish trend scenario that targets 1.1550 followed by 1.1705.

Expected trading range for today is between 1.1340 support and 1.1540 resistance.

Expected trend for today: Neutral