EURUSD declines calmly – Analysis - 31-08-2016

The EURUSD pair continues to fluctuate with calm negativity to touch 1.1130 level yesterday, and as long as the price is below 1.1196 level, our bearish overview will remain valid and active, supported by the negative pressure provided by the EMA50, waiting to test 1.1067 level mainly.

It is important to monitor the price behavior when reaching any of the above mentioned levels, as breaking the targeted level represents negative factor that will push the price to suffer more losses that its next target reach to 1.0938, while breaching 1.1196 level will stop the expected decline and lead the price to recover and head towards 1.1356 initially.

Expected trading range for today is between 1.1050 support and 1.1225 resistance.

Expected trend for today: Bearish