The EURUSD activates the positive pattern – Analysis - 19-10-2021
Economies.com
2021-10-19 04:09AM UTC
The EURUSD pair managed to breach 1.1615 level and hold above it, to activate the positive effect of the inverted head and shoulders’ pattern that its signs appear on the chart, reinforcing the chances of achieving more gains that start at 1.1670 and extend to 1.1760.
Therefore, the bullish trend scenario will remain valid and active for the upcoming period, supported by the EMA50, noting that breaking 1.1615 will stop the expected rise and press on the price to return to the bearish track again.
The expected trading range for today is between 1.1570 support and 1.1720 resistance.
The expected trend for today: Bullish
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