The EURUSD forms positive pattern – Analysis - 15-10-2021

The EURUSD pair faces solid resistance at 1.1615 and finds difficulty to breach it, and by taking a deeper look at the chart, we find that the price forms inverted head and shoulders’ pattern that has positive targets that reach 1.1760, noticing that stochastic provides positive signals now that we are waiting to motivate the price to breach the mentioned resistance and ease the mission of continuing the rise.

Therefore, we will continue to suggest the bullish trend for the upcoming period depending on the above mentioned technical factors, taking into consideration that holding above 1.1545 is important to achieve the waited targets.

The expected trading range for today is between 1.1550 support and 1.1700 resistance.

The expected trend for today: Bullish