The EURUSD approaches the resistance – Analysis - 26-08-2019
Economies.com
2019-08-26 05:12AM UTC
The EURUSD pair settles around 1.1150 level after the strong bullish rally that it witnessed on last Friday’s evening, noticing that the price moves inside a bearish channel that appears on the chart, while the EMA50 forms continuous negative pressure against the price.
Therefore, the overall bearish trend scenario still valid, supported by stochastic approach to the overbought areas, waiting to rebound bearishly to target 1.1000 as a next main station, reminding you that it is important to hold below 1.1180 to continue the expected decline.
The expected trading range for today is between 1.1050 support and 1.1200 resistance.
The expected trend for today: Bearish
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