EURUSD fails to breach – Analysis - 28-06-2016

The EURUSD pair could not breach 1.1067 level, to face a negative pressure that pushed the trading to decline strongly hitting 1.0970 levels, which confines the trading between 50% and 61.8% Fibonacci correction levels, represented by 1.1067 resistance and 1.0937 support.

On the other hand, we notice that there is a contradiction between stochastic positivity and the EMA50 negativity, which makes us stay aside temporarily in order to monitor the price behavior according to the above mentioned levels, waiting for breaching one of them to detect the next trend clearly, pointing that breaching 1.1067 level will reactivate the positive scenario that its first target located at 1.1196, while breaking 1.0937 level represents negative factor that will push the price to suffer more of the losses that reach to 1.0778 as a next main station.

Expected trading range for today is between 1.0900 support and 1.1150 resistance.

Expected trend for today: Sideways