EUR USD heads to retest – Analysis -27/10/2014
Economies.com
2014-10-27 05:14AM UTC
The EURUSD pair shows sideways trading with today’s opening heading towards retesting the broken support which turns into resistance now between 1.2740 and 1.2785, as long as the price is below these levels, we keep preferring the bearish bias on the intraday basis, and the next main target at 1.2490.
Stochastic positivity explains the current bullish bias reasons, being aware that breaching 1.2785 level will open the way towards recovery attempts that its initial targets reach at 1.3010.
Expected trading range for today is between: 1.2550 support and 1.2800 resistance.
Expected trend for today: Bearish
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