EURUSD resumes the decline – Analysis - 18-07-2018

The EURUSD pair traded with strong negativity on yesterday’s evening to settle below 1.1705 level, and the price falls under continuous negative pressure coming by the EMA50, which supports the continuation of our bearish overview on the intraday and short term basis, noting that our waited targets begin at 1.1554 followed by 1.1443.

The continuation of the bearish trend depends on holding below 1.1705 and 1.1760 levels, as breaching the last one will lead the price to turn to rise and achieve gains that start at 1.1900 and extend to 1.2029.

Expected trading range for today is between 1.1554 support and 1.1720 resistance.

Expected trend for today: Bearish