The EURUSD attacks the first support – Analysis - 19-04-2019

The EURUSD pair settled below 1.1255 level after the negative pressure that it witnessed yesterday, as the EMA50 formed solid resistance against the price, which might push the price to test the key support 1.1180, but we notice that stochastic gets rid of its positive momentum to hint getting positive factor that might push the price to recover again.

Therefore, we prefer staying aside until we get clearer signal for the next trend, which we will get through breaking 1.1180 support or breaching 1.1255 resistance, noting that breaching this resistance will reactivate the temporary bullish trend scenario that targets 1.1350 followed by 1.1443 levels mainly, while breaking the support will press on the price to continue the bearish trend on the short term and medium term basis, to head towards 1.1100 as a next negative station.

Note that we might witness calm trades today, affected by the markets’ holidays.

The expected trading range for today is between 1.1160 support and 1.1330 resistance.

The expected trend for today: Neutral