EURUSD approaches from the first target – Analysis - 04-01-2017

The EURUSD pair traded with strong negativity yesterday to reach few pips away from our first waited target at 1.0326, to rebound bullishly and settle above 1.0400 now, as it was affected by stochastic positivity that loses its bullish momentum gradually heading towards the overbought areas, while the EMA50 forms negative pressure against the intraday and short term trading.

Therefore, these factors encourage us to suggest more decline in the upcoming sessions, and breaking 1.0326 will open the way to target the bearish channel's support at 1.0100, while the bearish trend will remain valid and active unless we witnessed clear breach and holding above 1.0519.

Expected trading range for today is between 1.0300 support and 1.0480 resistance.

Expected trend for today: Bearish