EURUSD loses momentum – Analysis - 22-12-2016
Economies.com
2016-12-22 05:35AM UTC
The EURUSD pair returns to fluctuate above 1.0400 level again, noticing that the EMA50 keeps its negative pressure on the intraday and short term trading, while stochastic shows clear overbought signals.
Therefore, these factors encourage us to keep our bearish trend expectations organized inside the bearish channel that appears on chart, and the waited targets begin at 1.0326 and extend to visit the mentioned channel's support at 1.0230, reminding you that holding below 1.0519 represents key condition to continue the expected decline.
Expected trading range for today is between 1.0300 support and 1.0519 resistance.
Expected trend for today: Bearish
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