EURUSD begins with strong positivity – Analysis - 30-12-2016

The EURUSD pair opened today's trading with sharp rise that pushed the price to touch 1.0650 level, but it bounced downwards quickly to settle around the bearish channel's resistance, hinting that the bearish track still dominating the intraday and short term trading, especially that the daily candlestick was achieved below 1.0519, besides that this breach is considered as fake breach as the previous breaches shown on the above chart.

Therefore, these factors encourage us to keep our bearish overview in the upcoming sessions, which its main targets begin at 1.0326, noting that holding with a daily close above 1.0519 will stop the suggested bearish bias and lead the price to turn its short term track to the upside.

Expected trading range for today is between 1.0400 support and 1.0600 resistance.

Expected trend for today: Bearish