EURUSD returns to decline – Technical Analysis – 18-05-2016

The EURUSD pair returned to push negatively and continues the bearish track that started after touching the bullish channel’s resistance that appears on chart, to open the way to continue the decline in the coming period, and the main target is located at 1.1040.

The exponential moving averages 50 and 100 form negative pressure now that support the mentioned target, besides that stochastic shows clear negative signal that reinforce the expectations of the bearish trend.