Midday update for EURUSD 08-03-2017

The EURUSD pair shows bearish bias since morning affected by the negative pressure that formed by the EMA50, and it might head to test the critical support at 1.0505 in the upcoming sessions, as we mentioned this morning, this level represents one of the next trend keys besides 1.0581 resistance, where the price needs to breach one of these levels to detect its next trend clearly.

Therefore, our neutral attitude will remain valid until now, to recognize the details of the expected targets from the breach, please review our morning report, pointing that the contradiction remains valid between stochastic positivity and the EMA50 negativity.

Expected trading range for today is between 1.0450 support and 1.0680 resistance.

Expected trend for today: Depends on the above mentioned levels