The EURUSD faces negative pressure – Analysis - 22-11-2019

The EURUSD pair ended yesterday’s trading below 1.1065 level, which puts the price under negative pressure that might push trades to return to the correctional bearish track again, which its next targets located at 1.0995 followed by 1.0950, but on the other hand, we notice that the EMA50 forms strong support to protect the price from suffering more losses, besides that stochastic provides clear positive signals that might lead the price to recover again.

Therefore, this contradiction between the technical factors makes us prefer staying aside until the price confirms its situation according to 1.1065 level, noting that holding above it again will reactivate the bullish trend scenario that its targets begin by breaching 1.1105 to open the way to head towards 1.1180 as a next main station.

The expected trading range for today is between 1.1000 support and 1.1150 resistance.

The expected trend for today: Neutral