EURUSD under the negative pressure – Analysis - 29-03-2017

The EURUSD pair trading settled below 1.0852 level, which puts the price under negative pressure that we expect to push the price to visit 1.0731 level in the upcoming sessions, pointing that the EMA50 and stochastic provide positive signals that supports the chances for resuming the main bullish trend.

Therefore, the decline will be preferred temporarily unless breaking 1.0731 level and holding below it, where breaking this level will push the price to suffer from more of the losses on the short term basis, to head to 1.0581 as a next main station, while the price needs to confirm regaining the main bullish track that its next target located at 1.0973.

Expected trading range for today is between 1.0731 support and 1.0900 resistance.

Expected trend for today: Bearish temporarily