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Tuesday, August 21, 2018

|>> New Forex Analysis by FX for Dummies August 21, 2018 at 09:20AM :

" šŸ“Š The EURUSD pair rallied upwards strongly to end yesterday’s trading above 1.1443 level, which stops the recently suggested negative scenario and pushes the price to test the key resistance 1.1554, which makes us stay aside temporarily due to the contradiction of the technical factors, as the negative effect of the head and shoulders’ pattern still active, besides the negative pressure formed by the EMA50, while the price gets positive support by stochastic. The price needs to breach one of the above mentioned key levels to detect its next destination clearly, noting that breaching 1.1554 resistance will lead the price to achieve more gains and target 1.1705 areas on the near term basis, while breaking 1.1443 support will reactivate the bearish trend scenario that its next target located at 1.1300. Expected trading range for today is between 1.1400 support and 1.1620 resistance. Expected trend for today: Depends on the above mentioned levels "

 

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