Midday update for EURUSD 23-02-2017
The EURUSD pair shows slight bearish bias after approaching from 1.0581 level this morning, and stochastic begins to provide negative overlapping signal on the four hours time frame, to motivate the price to achieve more of the downside moves in the upcoming period, which keeps our bearish trend expectations valid for the rest of the day, waiting for testing 1.0465 level initially, reminding you that breaking this level will push the price towards 1.0339 as a next main station.
Holding below 1.0581 and 1.0620 level will keep the suggested bearish trend scenario valid, where breaching these levels will push the price to achieve gains that begin at 1.0731 and extend to 1.0852.
Expected trading range for today is between 1.0450 support and 1.0620 resistance.
Expected trend for today: Bearish
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