The EURUSD loses momentum – Analysis - 11-12-2019

The EURUSD pair achieved more of the upside moves yesterday to approach from the critical resistance level at 1.1108, noticing that the price begins today with a bearish bias as a signal to resume the expected bearish trend in the upcoming period, supported by stochastic negativity that appears in the four hours’ time frame.

Therefore, we believe that the way is open for trading negatively for today, pointing that we are waiting for targeting 1.0995 then 1.0950 levels mainly, while holding below 1.1108 represents an important condition for the continuation of the expected decline.

The expected trading range for today is between 1.1000 support and 1.1140 resistance.

The expected trend for today: Bearish