EURUSD draws a positive pattern – Analysis - 16-10-2018
Economies.com
2018-10-16 04:19AM UTC
The EURUSD pair continues to fluctuate within sideways track since yesterday, and by taking a deeper look at the chart, we find that the price draws an inverted head and shoulders’ pattern that appears on the minor image, which means that breaching 1.1615 will activate the positive effect of this pattern and push the price to resume the bullish trend on the intraday and short term basis, noting that the positive targets begin at 1.1705 and extend to 1.1800.
Therefore, we will continue to suggest the bullish trend in the upcoming sessions conditioned by the price stability above 1.1525.
Expected trading range for today is between 1.1500 support and 1.1680 resistance.
Expected trend for today: Bullish
Forex and Currency News
Forex
Euro approaches week high amid positive outlook
2024-04-18 08:30AM UTC
Euro rose in European trade on Thursday against a basket of major rivals, extending gains for the ...
Forex
Dollar gives up five-month high on profit-taking
2024-04-17 10:56AM UTC
The dollar lost ground in European trade on Wednesday against a basket of major rivals away from ...
Forex
Sterling starts recovering after hot UK inflation data
2024-04-17 06:43AM UTC
Sterling rose in European trade on Wednesday for the first time in four days against the dollar, ...
Forex Technical Analysis
Forex
The NZDCAD surrenders to the resistance line stability – Forecast today – 19-4-2024
2024-04-19 08:21AM UTC
NZDCAD Pair Analysis Expected Scenario The NZDCAD pair has confirmed its submission to ...
Forex
The EURJPY faces the negative pressures – Forecast today – 19-4-2024
2024-04-19 08:16AM UTC
EURJPY Pair Analysis Expected Scenario Despite strong negative pressures this morning due ...
Forex
The GBPJPY holds above the support – Forecast today – 19-4-2024
2024-04-19 08:15AM UTC
GBPJPY Pair Analysis Expected Scenario The GBPJPY pair experienced sudden negative ...