EUR USD continues the sideways fluctuation – Analysis - 25/04/2014

The EUR USD continued its trading between Fibonacci correction levels 38.2% and 23.6% that appear in the image between 1.3780 and 1.3850 consecutively, while we still waiting for a confirmed breach to 1.3850 to confirm the price release from the bearish correctional track and heading towards 1.4000 as an initial main station.

In general, the stability of the trading above 1.3780 makes us keep our positive expectations on the intraday and short term basis, which gets support from the current positivity of Stochastic, reminding you that breaking 1.3780 will push the EURUSD price to visit 1.3720 then 1.3660 before attempting to rise again.

Expected trading range for today is between: 1.3750 support and 1.3950 resistance.

Expected trend for today: Bullish