EURUSD keeps its negative stability – Analysis - 22-07-2016

The EURUSD pair showed some positive trading yesterday to approach from retesting 1.1067 level, as it kept its stability below this level and bounced bearishly to hint resuming the bearish trend in the upcoming sessions, noticing that the EMA50 met the mentioned level to add more strength to it, while stochastic provides negative signals on the four hours' time frame.

Therefore, these factors encourage us to continue suggesting the bearish trend in the upcoming period, reminding you that the next main target of the current bearish wave at 1.0938, which forms key factor to detect the next destination on the short term basis, as breaking it represents the key to extend the bearish wave towards 1.0778, while holding against the current negative pressure will lead the price to attempt to regain the main bullish trend that its targets begin at 1.1196 and extend to 1.1356.

Expected trading range for today is between 1.0900 support and 1.1100 resistance.

Expected trend for today: Bearish