The EURUSD presses on the support – Analysis - 25-10-2019

Economies.com
2019-10-25 05:11AM UTC

The EURUSD pair traded with clear negativity on yesterday’s evening to press on 1.1105 level and moves below it now, which hints the price head to start correctional bearish wave on the intraday basis, but we notice that the EMA50 attempts to provide the positive support to the price, while stochastic enters the oversold areas.

 

Therefore, we believe that the chances are valid to trade positively in the upcoming sessions, and the first target is located at 1.1180, noting that the continuation of the negative pressure and breaking 1.1065 will stop the expected bullish trend and push the price for more bearish correction on the intraday basis.

 

The expected trading range for today is between 1.1030 support and 1.1200 resistance.

 

The expected trend for today: Bullish

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