EURUSD declines calmly – Analysis - 31-08-2016
The EURUSD pair continues to fluctuate with calm negativity to touch 1.1130 level yesterday, and as long as the price is below 1.1196 level, our bearish overview will remain valid and active, supported by the negative pressure provided by the EMA50, waiting to test 1.1067 level mainly.
It is important to monitor the price behavior when reaching any of the above mentioned levels, as breaking the targeted level represents negative factor that will push the price to suffer more losses that its next target reach to 1.0938, while breaching 1.1196 level will stop the expected decline and lead the price to recover and head towards 1.1356 initially.
Expected trading range for today is between 1.1050 support and 1.1225 resistance.
Expected trend for today: Bearish
Forex and Currency News
Forex
Dollar regains footing ahead of important Fed remarks
Dollar rose in European trade on Tuesday against a basket of major rivals, holding ground above ...
Forex
Aussie is worst performing major currency after RBA's decision
The Australian dollar fell in European trade on Tuesday against a basket of major rivals, moving ...
Forex
Yen extends losses as intervention momentum from Japanese authorities fades
Yen lost ground in Asian trade against a basket of major rivals, heading for the second loss in a ...
Forex Technical Analysis
Forex
The EURJPY achieves some targets – Forecast today – 7-5-2024
Expected Scenarios and Trading Range Scenario 1: Bullish Attack EURJPY pair utilizes ...
Forex
The GBPJPY begins to rise – Forecast today – 7-5-2024
Expected Scenarios and Trading Range Scenario 1: Correctional Decline Ended GBPJPY pair ...
Forex
The USDCHF price attempts to recover – Forecast today - 07-05-2024
USDCHF Price Analysis The USDCHF price shows positive trades, indicating a potential resumption ...