EUR USD approaches the moving average – Analysis - 25/11/2015

The EURUSD pair shows some slight bullish bias to approach from the EMA50 that forms an intraday resistance at 1.0690, as long as the price below this level, so our bearish trend expectations will remain valid in the upcoming period, the price needs to break 1.0635 level to get a good negative motive that supports resuming the main bearish trend.

Therefore, we keep preferring the decline on the intraday and short term basis, which its next main target at 1.0500, while breaching 1.0690 level represents the key for a bullish correction beginning that its targets begin at 1.0825. 

Expected trading range for today is between 1.0650 support and 1.0720 resistance.

Expected trend for today: Bearish