Midday update for EURUSD 24-10-2016
Economies.com
2016-10-24 10:41AM UTC
The EURUSD pair settles below 1.0938 level, noticing that stochastic loses its positive momentum heading towards the overbought areas, which forms negative factor that we are waiting to push the price to resume the expected bearish bias for today, which targets testing 1.0778 level mainly.
Therefore, we will keep our bearish overview supported by the EMA50, reminding you that breaking 1.0778 level will extend the pair's losses to reach 1.0519.
Expected trading range for today is between 1.0750 support and 1.0938 resistance.
Expected trend for today: Bearish
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