Forex

The EURUSD retests – Analysis - 14-01-2020

2020-01-14 05:34:34 GMT (Economies.com)

The EURUSD pair continues to fluctuate at the broken support of the bullish channel that appears on the chart, and the price keeps its stability below this resistance –located at 1.1140-, to keep the bearish trend scenario valid for the upcoming period, supported by the negative pressure formed by the EMA50, waiting to head towards 1.1060 that represents our main target.

 

On the other hand, we should note that breaching 1.1140 followed by 1.1180 levels will stop the expected decline and lead the price to resume the main bullish trend that its first target located at 1.1350.

 

The expected trading range for today is between 1.1060 support and 1.1200 resistance.

 

The expected trend for today: Bearish

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