Midday update for EUR USD 05/02/2016
Economies.com
2016-02-05 11:23AM UTC
The EURUSD pair shows slight bearish bias since morning affected by stochastic negativity, and it might lean on the support base that formed above 1.1120 before resuming the bullish trend.
Therefore, our bullish trend expectations remain valid for the rest of the day if the price settled above the mentioned level, supported by the EMA50, reminding you that the waited main target at 1.1264, and breaching it represents the extension key of the EURUSD gains on the short term basis.
Expected trading range for today is between 1.1050 support and 1.1400 resistance.
Expected trend for today: Bullish
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