Midday update for EURUSD 08-12-2016
Economies.com
2016-12-08 11:09AM UTC
The EURUSD pair managed to breach 1.0778 level and closed the last four hours' candlestick above it, which reinforce our expectations of continuing the bullish wave on the short term basis, paving the way to head towards our next main target at 1.0938.
Therefore, the positive scenario will remain valid in the upcoming period supported by the EMA50, noting that breaking 1.0778 level might weaken the current bullish momentum and push the price to test 1.0685 areas again before any new attempt to rise.
Expected trading range for today is between 1.0700 support and 1.0900 resistance.
Expected trend for today: Bullish
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