The EURUSD surpasses the first target – Analysis - 11-11-2021

The EURUSD pair declined sharply yesterday to succeed achieving our first target at 1.1525, and broke it to confirm extending the bearish wave towards 1.1400 that represents our next negative station, to keep the bearish trend dominant in the upcoming sessions, organized inside the bearish channel that appears on the chart.

The EMA50 keeps supporting the expected decline, noting that holding below 1.1525 represents the first condition to continue the bearish trend, as breaching it might push the price to start recovery attempts that target testing 1.1590 and might extend to 1.1640 areas before any new attempt to decline.

The expected trading range for today is between 1.1380 support and 1.1540 resistance.

The expected trend for today: Bearish