EURUSD negotiates the moving average – Analysis - 04-07-2016
The EURUSD pair fluctuates near the EMA50, while stochastic shows negative signal that might push the price to provide more of the temporary sideways trading before it attempt to resume the bullish bias.
In general, the bullish trend scenario remains valid and active in the upcoming period as long as the price stable above 1.1067 level, reminding you that the first target located at 1.1196, and breaching it represents the key for the price rally to 1.1356 on the near term basis.
You should take into consideration that breaking 1.1067 level would push the price to test the most important support for the short and medium term trading at 1.0937 before detecting the next trend clearly.
Expected trading range for today is between 1.1000 support and 1.1270 resistance.
Expected trend for today: Bullish
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