EUR USD returns to decline – Analysis -27/03/2015
Economies.com
2015-03-27 05:19AM UTC
The EURUSD pair ended yesterday’s trading below the bearish channel’s resistance, which brings the price back to the main bearish track, attempting to resume the main bearish trend, which its initial targets start at 1.0600 and extend to 1.0200.
Note that the EMA50 forms strong support at 1.0845, thus, the price needs to break this level to confirm the continuation of the bearish trend for today, taking into consideration that the negative overview will remain valid and active unless we witnessed a clear breach and hold above 1.1025.
Expected trading range for today is between: 1.0720 support and 1.1025 resistance.
Expected trend for today: Bearish
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