EURUSD confirms the break – Analysis - 06/05/2016
Economies.com
2016-05-06 04:34AM UTC
The EURUSD pair ended yesterday’s trading below 1.1420 level, which confirms the continuation of the bearish wave on the intraday basis to target 1.1264 level as a next main station, and according to the trading rules inside the price channels, the full target of the current bearish wave reaches to 1.1010, which urges monitoring the price behavior when reaching 1.1264.
The EMA50 forms negative pressure against the intraday trading to support the expected decline during the upcoming sessions, which its continuation conditions holding below 1.1494.
Expected trading range for today is between 1.1264 support and 1.1494 resistance.
Expected trend for today: Bearish
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