EUR USD crawls to the downside – Analysis - 01/12/2015

The EURUSD pair trades with slight negativity in attempt to approach from our first main waited target at 1.0500, the price keeps its stability below 1.0615 level, and the EMA50 keeps pushing negatively on the intraday and short term trading.

Therefore, the bearish trend scenario will remain valid and active in the upcoming period, and the extended targets reach to 1.0350, taking into consideration that breaching 1.0630 level will complete forming a falling wedge pattern that has the ability to stop the suggested negative scenario then pushed it to turn its intraday and short term track to the upside.

Expected trading range for today is between 1.0450 support and 1.0650 resistance.

Expected trend for today: Bearish