The EURUSD keeps rising – Analysis - 18-11-2019

The EURUSD pair shows more bullish bias to reach the most important resistance at 1.1065, which hints the price attempt to regain the bullish trend and stop the correctional bearish track that dominated the recent trades, supported by moving above the EMA50, but on the other hand, the negative effect of the double top pattern still active, besides witnessing clear oversold signals through stochastic.

Therefore, this contradiction between the technical factors makes us stay aside until we get clearer signal for the next trend, noting that breaching 1.1065 followed by 1.1105 levels will lead the price to achieve more gains and head towards areas that reach 1.1280, while breaking 1.0995 will press on the price to decline towards 1.0950 followed by 1.0880 levels as next negative targets.

The expected trading range for today is between 1.0970 support and 1.1150 resistance.

The expected trend for today: Neutral