EUR USD continues to decline – Analysis -27/05/2015
Economies.com
2015-05-27 04:53AM UTC
The EURUSD pair ended last yesterday’s trading below 1.0900 level, which provides more support for the bearish trend scenario on the short term basis, which gets a continuous support from the EMA50, waiting for surpassing our first target at 1.0800 to open the way towards 1.0640.
In general, the negative effect of the head and shoulders pattern remains valid, to keep the expected bearish trend active unless breaching 1.1050 level and holding above it.
Expected trading range for today is between 1.0750 support and 1.1000 resistance.
Expected trend for today: Bearish
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