EURUSD fails to breach – Analysis - 27-02-2017

The EURUSD pair attempted to breach the falling wedge’s resistance that appears in the image, but it couldn’t settle above it, to return to settle below 1.0581, which keeps the negative pressure valid on the intraday and short term basis, waiting for resuming the bearish bias, waiting for resuming the bearish bias in the upcoming sessions.

Therefore, we will keep preferring the bearish trend for today, supported by the negative pressure that comes from the EMA50, pointing that our main targets begin at 1.0455 and extend to 1.0339, while breaching 1.0581 level represents the key for stopping the current negative pressure and heading towards 1.0731 initially.

Expected trading range for today is between 1.0455 support and 1.0620 resistance.

Expected trend for today: Bearish