Midday update for EURUSD 13-02-2017
Economies.com
2017-02-13 11:10AM UTC
The EURUSD pair shows slight positive attempts since morning, while stochastic loses its positive momentum gradually heading to the overbought levels, which supports the chances for bouncing lower to test 1.0581 level, reminding you that the decline is temporary and we wait for a bullish rebound to resume the bullish correctional trend.
Therefore, we will keep preferring the bearish bias in the upcoming period unless breaching 1.0731 level and holding above it, which will lead it to recover and achieve gains that begin at 1.0852 and extend to 1.0973.
Expected trading range for today is between 1.0550 support and 1.0731 resistance.
Expected trend for today: Bearish temporarily
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