EUR USD reaches the first target – Analysis -31/07/2015
Economies.com
2015-07-31 04:53AM UTC
The EURUSD pair traded with clear negativity yesterday to reach the first main waited target at 1.0880, noticing the bullish rebound from there affected by stochastic positivity, to head towards new retesting process to 1.0990 level that turns into resistance after breaking it previously.
The EMA50 meets the mentioned resistance to add more strength to it, and as long as the price is above this level, we will continue to suggest the bearish trend for the upcoming period, noting that breaking 1.0880 level will extend the bearish wave to target 1.0740 level as a next main station.
Expected trading range for today is between 1.0800 support and 1.1050 resistance.
Expected trend for today: Bearish
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