The EURUSD keeps its negative stability – Analysis - 19-10-2020

The EURUSD pair settles below the broken neckline of the head and shoulders’ pattern that appears on the chart, falling under continuous negative pressure coming by the EMA50, while stochastic begins providing negative overlapping signal on the four hours’ time frame, waiting to motivate the price to resume the expected bearish trend for the upcoming period, which its next main target located at 1.1540.

Therefore, the bearish trend will remain valid and active for today, taking into consideration that the continuation of the bearish wave depends on the price stability below 1.1720 and 1.1745 levels.

The expected trading range for today is between 1.1610 support and 1.1780 resistance.

The expected trend for today: Bearish