The EURUSD pair showed some positive attempts yesterday but it found solid resistance at 1.1280, to bounce bearishly and settle below 1.1180 again, which makes us keep our bearish overview for the upcoming period, getting good support from stochastic current negativity besides the negative pressure provided by the EMA50.

Our first target is represented by testing 1.1060 level, reminding you that breaking it will extend the bearish wave towards 1.0860, while the bearish trend will remain valid and active unless breaching 1.1180 level and holding above it.

Expected trading range for today is between 1.1000 support and 1.1280 resistance.

Expected trend for today: Bearish

Oil declined yesterday, trading around 38.2% Fibonacci at 44.90, which could define the next big move.

In fact, the sideways range continued to dominate the market movement alongside weakness on ADX, moving averages and RSI.

We see inappropriate risk versus reward ratio as far as trading remains in the same range, while coming below 44.90 will weaken 43.50 and will bring a bearish wave.

On the upside, coming above 47.80 will be a positive signal.

Despite the bullishness seen above 61.8% Fibonacci and above moving averages, the USDCHF pair is very close to the classical resistance at 0.9820.

Bulls needs to breach this level to resume their upside trip, while coming below 0.9725 will negate.

From here, we believe that, clearing 0.9800 may assist the pair to beat 0.9820, reinforced by the positive signs on RSI and ADX; although, they aren’t strong enough right now.

EURUSD inclined yesterday, after failing to stabilize below 1.1130, while ADX is positive and RSI attempts to breach through 50.00 levels.

These factors are positive, while breaching 1.1275 will bring a strong upside wave and all what we need is a break above this level to be bullish over short-term basis.