EURUSD still within the sideways range – Analysis - 14-12-2016

The EURUSD pair continues to fluctuate around the EMA50 since yesterday, and the price still inside the sideways range that its signs appear on chart, which keeps the sideways trading scenario valid until the price manages to surpass one of this range's lines represented by 1.0519 support and 1.0685 resistance.

Note that breaching the mentioned resistance will provide recovery signals on the short term basis, to start forming positive formation that its confirmation line located at 1.0778, which means that breaching this level will motivate the price to achieve strong gains that start at 1.0938 and extend to 1.1067, while breaking 1.0519 support will push the price to suffer more losses in the upcoming period, to head towards 1.0326 as a next main station.

Expected trading range for today is between 1.0519 support and 1.0750 resistance.

Expected trend for today: Sideways