EURUSD is stable – Analysis - 06-11-2017
Economies.com
2017-11-06 04:33AM UTC
The EURUSD pair attempted to surpass 1.1600 barrier by last week end, starting today with sideways bias to settle below the previously broken neckline of the head and shoulders' pattern that appears on chart, which keeps the negative effect of this pattern active, which supports the chances of heading towards our next main target at 1.1423.
Therefore, we will continue to suggest the bearish trend in the upcoming sessions supported by the EMA50, reminding you that breaching 1.1679 will stop the expected decline and lead the price to attempt to return to the main bullish trend again.
Expected trading range for today is between 1.1500 support and 1.1690 resistance.
Expected trend for today: Bearish
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