Midday update for EURUSD 02-12-2016
The EURUSD pair tested 1.0685 level this morning and bounced bearishly from there, to fluctuate around the EMA50 again, as the price is affected by stochastic negativity, to keep trading stuck between the trend confirmation levels represented by 1.0519 support and 1.0685 resistance, thus, our neutrality will remain valid until the price manages to breach one of these levels.
For more details about the expected targets after the breach, please review our morning issued report, being aware that it is important to be careful from the upcoming trading, as the markets await the US unemployment and non-farm payrolls data, which might cause mixed trading and high volatility for the currencies' pair.
Expected trading range for today is between 1.0519 support and 1.0778 resistance.
Expected trend for today: Depends on the above mentioned levels
Forex and Currency News
Forex
Dollar rebounds ahead of US unemployment claims data
Dollar rose in European trade on Thursday against a basket of major rivals, resuming gains after a ...
Forex
Franc is best performing major currency after Swiss data
Swiss Franc rallied in European trade on Thursday, extending gains for the second straight day ...
Forex
Dollar parks at two-week highs ahead of Fed decisions
The dollar rose in European trade on Wednesday against a basket of major rivals, extending gains ...
Forex Technical Analysis
Forex
The GBPUSD forecast update 02-05-2024
GBPUSD Trading Report The GBPUSD price shows weak trades since morning, settling above 1.2500$ ...
Forex
The EURUSD price forecast update - 02-05-2024
EURUSD Trading Report The EURUSD price continues to fluctuate around 1.0715$ level, and we still ...
Forex
The EURGBP tests key support – Forecast today – 2-5-2024
Expected Scenarios The EURGBP price formed many bearish trades recently, to test 38.2% ...