Midday update for EURUSD 31-08-2016
Economies.com
2016-08-31 10:21AM UTC
The EURUSD pair shows tight trading since morning settling around 1.1150 level, while stochastic loses its positive momentum gradually in attempt to support the continuation of the bearish trend scenario in the upcoming sessions.
In general, the bearish trend will remain valid and active unless breaching 1.1196 level and holding above it, supported by the EMA50 that forms negative pressure against the intraday trading, reminding you that our main waited target is located at 1.1067, which breaking it represents the key to extend the bearish wave towards 1.0938.
Expected trading range for today is between 1.1050 support and 1.1225 resistance.
Expected trend for today: Bearish
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