EUR USD approaches the initial target – Analysis -22/12/2014
Economies.com
2014-12-22 06:24AM UTC
The EURUSD pair continues to trade negatively affected by the EMA50 negative pressure, and we notice that stochastic offers negative overlapping signal that encourages us to suggest more bearish bias in the upcoming sessions, as the price trades near the initial target mentioned in our previous reports at 1.2200, waiting to break this level to reinforce the chances of continuing the bearish trend towards the main target at 1.2000.
Note that breaching 1.2360 level will stop the current negative scenario and push the price for recovery attempts that its targets begin by testing 1.2490 level.
Expected trading range for today is between: 1.2100 support and 1.2330 resistance.
Expected trend for today: Bearish
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