EUR USD approaches the target – Analysis -05/03/2015

The EURUSD pair closed yesterday’s trading with clear negativity below 1.1100 level, which adds more negative pressure that supports the continuation of the bearish trend on the short and medium term basis, where the price approaches from our waited main target at the psychological barrier at 1.1000.

In general, the bearish bias will remain valid in the upcoming period, supported by the EMA50, pointing that breaking 1.1000 level will extend the bearish wave to reach 1.0835 levels, while the downside track expectations unless breaching 1.1215 then 1.1275 levels and holding above them.

Expected trading range for today is between: 1.0900 support and 1.1155 resistance.

Expected trend for today: Bearish