EURUSD faces the moving average – Analysis - 13-12-2016

The EURUSD pair continued its rise yesterday to face the EMA50 the forms intraday resistance at 1.0645, accompanied by with witnessing clear overbought signals through stochastic, which might push the price to provide some negative trading in the upcoming sessions.

In general, the price still confined inside the sideways range that its signs appear on chart, which its lines represented by 1.0519 support and 1.0685 resistance, thus, the sideways trading will remain dominant until the price manages to breach one of the mentioned levels, reminding you that breaking this support will push the price to head towards 1.0326 as a next main station, while breaching 1.0685 level will open the way to recover and target 1.0778 followed by 1.0938 areas mainly.

Expected trading range for today is between 1.0519 support and 1.0750 resistance.

Expected trend for today: Sideways