The EURUSD loses momentum - 18-09-2023

Economies.com
2023-09-18 04:01AM UTC

The EURUSD pair fluctuates within sideways track now, settling around 1.0660, noticing that stochastic loses its positive momentum and begins to overlap negatively now, waiting to motivate the price to resume the bearish bias and break 1.0635 to confirm extending the bearish wave towards 1.0515 areas.

 

Therefore, we will continue to suggest the bearish trend for the upcoming period supported by the negative pressure formed by the EMA50, noting that breaching 1.0685 will lead the price to continue the rise and test 1.0725 and might extend to 1.0785 areas before any new attempt to decline.

 

The expected trading range for today is between 1.0570 support and 1.0725 resistance.

 

The expected trend for today: Bearish

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