EURUSD faces solid resistance – Analysis - 17-09-2018

The EURUSD pair found difficulty to surpass 1.1705 level, to rebound bearishly and test the EMA50 that forms initial support at 1.1620, as it attempts to protect the price from suffering more losses, while the price is affected by stochastic negativity.

Until now, the bullish trend scenario still valid, depending on the price stability above 1.1620 and the most important above 1.1554, as breaking the last level will push the price to achieve negative targets that start at 1.1443, while breaching 1.1705 represents the key to rally towards 1.1800 followed by 1.1975 levels as next main stations.

Expected trading range for today is between 1.1554 support and 1.1730 resistance.

Expected trend for today: Bullish