The EURUSD tests the resistance – Analysis - 02-11-2021
Economies.com
2021-11-02 05:22AM UTC
The EURUSD pair continued to rise to reach the key resistance 1.1615, noticing that the EMA50 forms good resistance barrier against the price, accompanied by stochastic loss to the positive momentum and witnessing clear negative signals on the four hours’ time frame.
Therefore, these factors encourage us to suggest the bearish bias today, expecting to visit 1.1525 level initially, noting that breaching 1.1615 will push the price to achieve additional gains that target testing 1.1670 before any new attempt to decline.
The expected trading range for today is between 1.1520 support and 1.1650 resistance.
The expected trend for today: Bearish
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