Midday update for EURUSD 22-12-2016
Economies.com
2016-12-22 11:35AM UTC
The EURUSD pair moves near 1.0450 level since morning, settled below the EMA50, and stochastic remains on the overbought levels, to keep the negative pressure valid until now, waiting for resuming the bearish bias that targets testing 1.0326 level initially, and its targets extend to 1.0230 after breaking the previous level.
Therefore, we will keep our bearish trend expectations for the rest of the day unless breaching 1.0519 level and holding above it.
Expected trading range for today is between 1.0300 support and 1.0519 resistance.
Expected trend for today: Bearish
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