EUR USD breaks the support – Analysis -30/07/2015

Economies.com
2015-07-30 04:23AM UTC

The EURUSD pair broke 1.0990 level and closed the daily candlestick below it, which activates the bearish trend scenario on the intraday and short term basis, to target 1.0880 followed by 1.0740 areas in the upcoming period.

 

The EMA50 supports the suggested decline, noting that breaching 1.0990 level and holding above it will bring us back to neutrality, and the chances might be valid to test 1.1100 level initially.

 

Expected trading range for today is between 1.0850 support and 1.1100 resistance.

 

Expected trend for today: Bearish

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