Midday update for EURUSD 22-05-2017
Economies.com
2017-05-22 10:16AM UTC
The EURUSD pair shows slight bearish bias since morning approaching from testing 1.1123 level, accompanied with stochastic surpass to the negative momentum to approach from the oversold level, reinforcing the chances for bouncing higher and resuming the bullish trend in the upcoming period.
In general, the bullish trend scenario will remain active for today unless breaking 1.1123 level and holding below it, where breaking this level will push the price to extend its losses to 1.0973 before any new attempt to rise, while the next target of the current bullish wave located at 1.1365.
Expected trading range for today is between 1.1123 support and 1.1300 resistance.
Expected trend for today: Bullish
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