Midday update for EURUSD 29-12-2016
Economies.com
2016-12-29 11:05AM UTC
The EURUSD pair keeps rising to move above the EMA50, but it is still stable below the most important resistance at 1.0519, accompanied by stochastic entering the overbought areas, which forms negative factor that we are waiting to push the price to rebound bearishly and resume the decline again.
Therefore, we will keep our bearish trend expectations for today unless breaching 1.0519 level, reminding you that our waited targets begin at 1.0326 and extend to 1.0160.
Expected trading range for today is between 1.0326 support and 1.0519 resistance.
Expected trend for today: Bearish
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