The EURUSD faces negative pressure – Analysis - 17-07-2019

The EURUSD pair settled around 1.1200 level, and the price faces contradiction between the technical factors, as it moves below the intraday bullish channel’s support line that appears on the chart, falling under the negative pressure formed by the EMA50, while the price still above the key support 1.1180, getting positive signals through stochastic.

Therefore, we prefer staying aside until getting clearer signal for the next trend, through breaching 1.1295 resistance or breaking 1.1180 support, noting that breaking this support will press on the price to provide additional negative trades that target testing 1.1100 areas mainly, while breaching the resistance will push the price to resume the positive scenario that its next main targets located at 1.1350 followed by 1.1443.

The expected trading range for today is between 1.1120 support and 1.1300 resistance.

The expected trend for today: Depends on the above mentioned levels