EUR USD around the key level – Analysis -27/11/2014

The EURUSD pair settled at 1.2490 critical resistance level, and the price provides bullish bias in attempt to achieve intraday trading in the upcoming period, but we notice that the price faces good resistance formed by the previously mentioned support of the minor bullish channel, which decelerates the positive attempts.

Now, we prefer staying aside temporarily in order to monitor the EURUSD price behavior according to 1.2490 support and 1.2520 resistance, where breaching this resistance will confirm an intraday bullish beginning that targets 1.2785 levels mainly, while breaking the support represents a key to return the main bearish trend, which its next targets reach at 1.2300.

Note that we might mention weak trading affected by the US markets holiday.

Expected trading range for today is between: 1.2400 support and 1.2600 resistance.

Expected trend for today: Neutral