EUR USD within sideways track – Analysis -02/02/2015

The EURUSD pair continues to move within sideways range keeping its stability below 1.1415, which keeps the overall bearish trend valid until now, which mainly targets visiting the psychological barrier at 1.1000.

The EMA50 continues to support the expected bearish wave, noting that the price is drawing a positive technical pattern appears on chart, which urges monitoring the price especially when beginning to test 1.1415 level, as breaching this level will offer a good positive motive that supports the recovery attempts on the intraday basis, and the targets will begin at 1.1735 and extend to 1.2040.

Expected trading range for today is between: 1.1200 support and 1.1415 resistance.

Expected trend for today: Bearish