EURUSD under the negative pressure – Analysis - 23-05-2018

The EURUSD pair trading settled near 1.1785 level, where the price faced strong resistance that formed by the EMA50, but we notice that stochastic gains positive momentum clearly to approach from the oversold levels.

Therefore, the contradiction that appears between the technical factors makes us stay aside temporarily until getting clearer signal for the next trend, and we need to monitor the price behavior according to 1.1785 level, to confirm the next trend clearly, pointing that holding below this level will push the price to head to 1.1700 mainly, while stepping above it will reactivate the positive scenario that its initial target at 1.1929.

Expected trading range for today is between 1.1680 support and 1.1880 resistance.

Expected trend for today: Neutral