EURUSD tests the initial resistance – Analysis - 09-08-2018
Economies.com
2018-08-09 04:15AM UTC
The EURUSD pair fluctuates around 1.1615 level now, and the price keeps its stability below the symmetrical triangle’s support line that was broken previously, to keep the negative pressure valid until now, supported by the EMA50 that keeps pushing the price downwards, besides that stochastic loses its positive momentum gradually.
Therefore, we believe that the chances are valid to resume the bearish trend that targets 1.1443 areas mainly, noting that breaching 1.1645 followed by 1.1715 levels will stop the expected decline and lead the price to start recovery attempts and regain the main bullish trend again.
Expected trading range for today is between 1.1500 support and 1.1700 resistance.
Expected trend for today: Bearish
Forex and Currency News
Forex
Dollar under pressure ahead of Fed remarks
2024-05-20 11:53AM UTC
The dollar fell in European trade on Monday against a basket of major rivals, resuming losses and ...
Forex
Euro trades at two-month highs amid positive outlook
2024-05-20 06:38AM UTC
Euro rose in European trade on Monday against a basket of major rivals, resuming gains and ...
Forex
Yen extends losses as Banks of Japan holds off intervention
2024-05-17 04:36AM UTC
Yen fell in Asian trade on Friday against a basket of major rivals, extending losses for the second ...
Forex Technical Analysis
Forex
The GBPUSD forecast update 20-05-2024
2024-05-20 10:39AM UTC
GBPUSD Price Analysis Expected Scenario The GBPUSD price hovers near the 1.2700$ level ...
Forex
The EURUSD price forecast update - 20-05-2024
2024-05-20 10:38AM UTC
EURUSD Price Analysis Expected Scenario The EURUSD price shows negative trading now, in ...
Forex
The EURJPY jumps above the barrier – Forecast today – 20-5-2024
2024-05-20 05:45AM UTC
EURJPY Pair Analysis Expected Scenario The EURJPY pair was affected by frequent positive ...