Midday update for EURUSD 29-08-2016
Economies.com
2016-08-29 10:21AM UTC
The EURUSD pair keeps its stability below 1.1196 level, which keeps the negative pressure valid for today, supported by the EMA50, waiting to resume the bearish bias that targets testing 1.1067 level mainly.
Note that breaching 1.1196 followed by 1.1235 levels will stop the suggested bearish bias and lead the price to attempt to regain the main bullish trend, to begin the main targets at 1.1356, noting that breaking 1.1067 level will extend the bearish wave to reach 1.0938 level direct.
Expected trading range for today is between 1.1067 support and 1.1265 resistance.
Expected trend for today: Bearish
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