EURUSD heads towards the support – Analysis - 09-03-2017

The EURUSD pair crawls gradually to the downside to approach from the critical support line at 1.0505, while the price remains confined between the confirmation levels that represented by the mentioned support and 1.0581 resistance, where the price needs to breach one of these levels to detect its next trend clearly.

Therefore, our neutral attitude will remain valid until now, and the contradiction between stochastic positivity and the EMA50 negativity provides another reason for the neutrality, pointing that breaking 1.0505 level will push the price to head towards 1.0339 levels mainly, while breaching 1.0581 will push the trading to return to the bullish correctional track that its next main target located at 1.0731.

Expected trading range for today is between 1.0420 support and 1.0640 resistance.

Expected trend for today: Depends on the above mentioned levels