EURUSD surpasses the target – Analysis - 21-10-2016
Economies.com
2016-10-21 03:23AM UTC
The EURUSD pair broke 1.0938 level and closed the daily candlestick below it, which opens the way to extend the correctional bearish wave to target 1.0778 areas mainly, which puts the price under more negative pressure in the upcoming sessions.
Therefore, the bearish bias will be suggested on the intraday and short term basis supported by the EMA50, noting that breaching 1.0938 level and holding above it will stop the expected decline and lead the price for recovery attempts that target 1.1067 mainly.
Expected trading range for today is between 1.0778 support and 1.1000 resistance.
Expected trend for today: Bearish
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