EURUSD faces the moving average – Analysis - 11-09-2018

The EURUSD pair hit the EMA50 that formed good resistance against the price’s positive attempts yesterday, to head towards testing 1.1554 level again, which keeps the chances valid to resume yesterday’s suggested bearish trend, which depends on the formation of the double top pattern that its confirmation line located at 1.1554, waiting to confirm the break to open the way to visit 1.1443 level initially.

On the other hand, we should note that breaching 1.1620 will stop the expected decline and lead the price to achieve gains that start at 1.1705 and extend to 1.1850 after breaching the previous level.

Expected trading range for today is between 1.1480 support and 1.1660 resistance.

Expected trend for today: Bearish