EUR USD negotiates the channel’s resistance – Analysis -30/03/2015

The EURUSD pair fluctuates near the main bearish channel’s resistance, which declines now to 1.0890, as long as the price below this levels, so the bearish trend will remain valid on the intraday and short term basis, which its main targets reach to 1.0600 and extend to 1.0200.

Stochastic provides negative overlapping signal now that supports the downside expectations, taking into consideration that breaching 1.0890 then 1.1025 levels will stop the negative scenario and pushes the price to turn its short- term track to the upside.

Expected trading range for today is between: 1.0720 support and 1.0945 resistance.

Expected trend for today: Bearish