EURUSD retests – Analysis - 20-11-2017
The EURUSD pair retests the previously breached resistance of the bearish channel that appears on chart, which turns into key support now at 1.1715, noticing that the EMA50 meets this level to add more strength to it and protect the price from suffering more losses.
Therefore, we believe that the chances are valid to rebound bullishly and resume the main bullish trend, supported by stochastic reach to the oversold areas again, waiting to head towards 1.2100 that represents our next main target, taking into consideration that breaking 1.1679 level will put the price under the correctional bearish pressure again, which its next target located at 1.1423.
Expected trading range for today is between 1.1679 support and 1.1850 resistance.
Expected trend for today: Bullish
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