Midday update for EURUSD 07-12-2016

Economies.com
2016-12-07 11:03AM UTC

The EURUSD pair shows sideways trading since morning keeping its stability above 1.0685 level, while stochastic begins to head upwards after overlapping positively on the four hours' time frame, thus, our bullish trend expectations will remain valid and active for today supported by the EMA50, waiting to head towards 1.0778 initially.

 

We remind you that breaching the mentioned level will extend the pair's gains to reach 1.0938 on the near term basis, while the bullish trend will remain valid unless breaking 1.0685 level and holding below it.

 

Expected trading range for today is between 1.0650 support and 1.0850 resistance.

 

Expected trend for today: Bullish

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