EURUSD gets a negative close – Analysis - 24-08-2018

The EURUSD pair closed the daily candlestick below 1.1554 level, facing continuous negative pressure coming by the EMA50 and stochastic, noticing that the price bounced bearishly from the bearish channel’s resistance that its signs appear on the chart.

Therefore, these factors encourage us to suggest the bearish bias in the upcoming sessions, targeting testing 1.1443 level initially, noting that breaking this level will extend the bearish wave to reach 1.1300 as a next station, while the expected decline will remain valid unless breaching 1.1600 level and holding above it.

Expected trading range for today is between 1.1443 support and 1.1620 resistance.

Expected trend for today: Bearish