EUR USD tests the moving average 23/12/2013

Economies.com
2013-12-23 06:51AM UTC

The pair is testing the EMA50 which acts as an intraday resistance now that meets 23.6% Fibonacci exactly at 1.3690, while Stochastic loses its bullish momentum gradually approaching from the overbought levels.

 

These factors make us keep our intraday bearish trend expectations, which its main targets located at 1.3505, while it remains valid unless breaching 1.3690, while this breach will lead to retest the recently recorded top at 1.3810

 

Expected trading range for today is between: 1.3505 support and 1.3750 resistance.

 

Expected trend for today: Bearish

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