The EURUSD confirms the break – Analysis - 29-03-2019

The EURUSD pair succeeded to confirm breaking 1.1240 level after closing the daily candlestick below it, to rally towards achieving more decline in the upcoming period, reminding you that our next target is located at 1.1180, which represents 61.8% Fibonacci correction level for the entire rise measured from 1.0333 to 1.2553, which hints the importance and sensitivity of this level to determine the short term and medium term trend.

Note that breaking the targeted level will extend the bearish wave to target 1.1100 and goes further to 1.0857, while holding against the current negative pressure and bouncing bullishly to breach 1.1300 will stop the bearish wave and lead the price to start recovery attempts that target testing 1.1443 areas initially.

The expected trading range for today is between 1.1130 support and 1.1300 resistance.

The expected trend for today: Bearish