The EURUSD retraces – Analysis - 23-10-2019
Economies.com
2019-10-23 04:41AM UTC
The EURUSD pair continues to decline to achieve bearish correction for the last bullish wave, approaching to test 23.6% Fibonacci for the rise measured from 1.0880 to 1.1180, accompanied by stochastic entering the oversold areas, while the EMA50 keeps providing the positive support to the price.
Therefore, these factors encourage us to keep our main bullish trend expectations, which its targets begin by breaching 1.1180 to confirm extending the bullish wave towards 1.1280, noting that the continuation of the bearish bias and breaking 1.1105 followed by 1.1065 levels will press on the price to turn to decline.
The expected trading range for today is between 1.1060 support and 1.1200 resistance.
The expected trend for today: Bullish
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