Midday update for EURUSD 22-02-2017

The EURUSD pair resumed its negative trading to approach from our main waited target at 1.0475, which supports the continuation of the expected decline for today, reminding you that you should be aware at this evening, since the markets are waiting for the FOMC meeting minutes, which might cause mixed and strong.

We mentioned this morning that monitoring the price behavior when reaching the waited target is important, where breaking it will extend the bearish wave to reach 1.0339 as a next main station, while breaching 1.0581 represents positive factor that will stop the current negative pressure and pushes the price to recover on the intraday and short term basis.

Expected trading range for today is between 1.0400 support and 1.0670 resistance.

Expected trend for today: Bearish