EURUSD continues the sideways fluctuation – Analysis - 01-12-2016

The EURUSD pair showed some negative trading yesterday to settle around 1.0600 level, as the price falls under the negative pressure formed by the EMA50, while stochastic provides positive signals that might push the price to visit the key resistance 1.0685 in the upcoming sessions, which represent one of the next trend keys besides 1.0519 support.

In general, we will continue with our neutrality until the price manages to surpass one of the above mentioned levels to detect its next destination clearly, noting that breaking 1.0519 support will push the price to suffer more losses that target 1.0326 areas as a next main station, while breaching 1.0685 represents the first positive key to start recovery trip that its main targets begin at 1.0778 and extend to 1.0938 after breaching the previous level.

Expected trading range for today is between 1.0500 support and 1.0700 resistance.

Expected trend for today: Depends on the above mentioned levels