EURUSD under the negative pressure – Analysis - 01-03-2017
Economies.com
2017-03-01 05:40AM UTC
The EURUSD pair couldn’t settle for long time above 1.0581 level, to close yesterday’s trading below this level, which puts the price under negative pressure again, opening the way for the return of the bearish trend domination on the short term trading.
Therefore, the bearish bias will be preferred for today supported by the negative pressure that comes from the EMA50, pointing that our first main target located at 1.0435, while breaching 1.0581 level represents positive factor that will push the price to visit 38.2% Fibonacci correction level at 1.0731 initially.
Expected trading range for today is between 1.0435 support and 1.0640 resistance.
Expected trend for today: Bearish
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