Forex

EURUSD attempts to recover – Analysis - 18-02-2019

2019-02-18 05:25:23 GMT (Economies.com)

The EURUSD pair continues to provide positive trading to move above 1.1300 barrier, accompanied by witnessing overbought signals through stochastic, besides that the EMA50 presses negatively on the price, which supports the chances of bouncing bearishly to resume the expected bearish trend on the intraday and short term basis.

 

Our next target is located at 1.1180, taking into consideration that breaching 1.1320 might push the price to achieve more intraday gains that reach 1.1370 and might extend to 1.1443 before determining the next destination clearly.

 

The expected trading range for today is between 1.1200 support and 1.1370 resistance.

 

The expected trend for today: Bearish

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