Midday update for EURUSD 04-01-2017
2017-01-04 11:23:06 GMT (Economies.com)
Midday update for EURUSD 04-01-2017
 

The EURUSD pair shows bullish bias since morning to approach from testing the bearish channel's resistance that appears on the above chart, noticing that stochastic reaches the thresholds of the overbought areas now, while the EMA50 meets the mentioned resistance to add more strength to it.

 

Therefore, we believe that the chances are valid to rebound bearishly for the rest of the day to resume the main bearish trend, which its main targets begin at 1.0326 and extend to 1.0100, reminding you that holding below 1.0519 represents the most important condition to continue the expected decline.

 

Expected trading range for today is between 1.0300 support and 1.0480 resistance.

 

Expected trend for today: Bearish

 
 
 
  Symbol Last Change Chg.%
1.1817
-0.0001
0.0093%
1.3186
-0.0114
0.8568%
17.211
-0.186
1.069%
51.205
-0.170
0.331%
57.02
-0.26
0.45%
1283.995
-19.430
1.491%
 
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