The EURUSD draws a negative formation – Analysis - 01-07-2019
Economies.com
2019-07-01 05:00AM UTC
The EURUSD pair found difficulty to continue rising in the previous sessions, to trade negatively and draw a double top pattern that its signs appear on the chart, its confirmation line located at 1.1350, which means that breaking it will put the price under negative pressure that targets testing 1.1280 areas initially, and might extend to visit the bullish channel’s support line at 1.1225.
Therefore, the bearish bias will be suggested for today, taking into consideration that breaching 1.1385 will stop the suggested negative scenario and push the price to resume the main bullish track again.
The expected trading range for today is between 1.1250 support and 1.1420 resistance.
The expected trend for today: Bearish
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