The EURUSD rises calmly – Analysis - 11-10-2021
Economies.com
2021-10-11 04:09AM UTC
The EURUSD pair shows slight positive trades to approach the EMA50 that forms continuous negative pressure against the price, noticing that the recent trades are confined within minor bullish channel that we believe it forms bearish flag pattern, thus, breaking 1.1545 will activate the negative effect of this pattern and lead the price to resume the bearish trend that its first target located at 1.1500.
Stochastic loses its positive momentum gradually to support the expectations to decline, which will remain valid unless breaching 1.1605 and holding above it.
The expected trading range for today is between 1.1480 support and 1.1620 resistance.
The expected trend for today: Bearish
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