Midday update for EUR USD 25/11/2015
Economies.com
2015-11-25 11:22AM UTC
The EURUSD pair traded with strong negativity this morning after testing the EMA50, to break 1.0635 level and activate the negative effect of the bearish flag pattern that formed by the minor bullish channel that appears in the image, which might push the price to push on the recently recorded bottom at 1.0591.
Therefore, our bearish trend expectations will remain valid and active efficiently in the upcoming period, supported by stochastic negativity, waiting for visiting 1.0500 level initially, reminding you that holding below 1.0690 conditioned for the continuation of the suggested decline.
Expected trading range for today is between 1.0500 support and 1.0720 resistance.
Expected trend for today: Bearish
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