Midday update for EUR USD 02/10/2015
Economies.com
2015-10-02 10:53AM UTC
The EURUSD pair tested the EMA50 that forms good resistance against the intraday trading and bounces lower from there, supported by stochastic negativity that appears on the four hours time frame.
Therefore, our bearish trend expectations remain valid for the rest of the day, conditioned by holding below 1.1280 level, and our first target located at 1.1060, being aware that the markets might witness mixed trading when the US economy unemployment and payrolls data issues today, which requires being careful during the upcoming trading.
Expected trading range for today is between 1.1060 support and 1.1280 resistance.
Expected trend for today: Bearish
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