The EURUSD tests the support – Analysis - 24-04-2019

The EURUSD pair provided negative trades yesterday to test the key support 1.1180, which represents one of the next trend keys besides 1.1255 resistance, and as we mentioned in our recent reports, the price needs to breach one of these levels to detect its next targets clearly, which makes us continue with our neutrality until now.

The contradiction between stochastic positivity and the EMA50 negativity provides another reasons for neutrality, noting that the continuation of the negative pressure and breaking 1.1180 will push the price to resume the bearish trend on the short term and medium term basis, to target 1.1100 as a next station, while breaching 1.1255 will lead the price to start recovery attempts and achieve intraday gains that begin at 1.1335 and extend to 1.1443.

The expected trading range for today is between 1.1120 support and 1.1300 resistance.

The expected trend for today: Neutral