Midday update for EURUSD 07-02-2017

The EURUSD pair achieved strong break to the critical support level at 1.0710 and settled below it, which stops the suggested positive scenario in our last reports and puts the price under negative pressure that we expect to push the price to test 1.0581 levels mainly.

Therefore, we prefer staying aside now in order to monitor the daily close according to 1.0710 level, where holding below it will confirm the continuation of the bearish bias to the above mentioned target, while stepping above it again will reactivate the bullish trend scenario then rally towards 1.0852 initially.

Expected trading range for today is between 1.0625 support and 1.0852 resistance.

Expected trend for today: Neutral