The EURUSD tests the support – Analysis - 05-11-2019

The EURUSD pair continues to decline to reach the first key support 1.1105, which urges caution from the upcoming trading; as the continuation of the negative pressure and breaking it followed by breaking 1.1065 will push the price to achieve more of the bearish correction that targets 1.0995 areas initially.

Until now, the bullish trend scenario still valid until breaking the above mentioned support lines, supported by the oversold signals that appear through stochastic, reminding you that the main waited targets begin at 1.1180 and extend to 1.1280 after breaching the previous level.

The expected trading range for today is between 1.1065 support and 1.1220 resistance.

The expected trend for today: Bullish