Midday update for EURUSD 27-05-2016
Economies.com
2016-05-27 10:54AM UTC
The EURUSD pair shows slight bearish bias since morning in attempt to move away from 1.1196 level, motivated by stochastic negativity that appears on the four hours time frame, which supports the continuation of our bearish trend expectations for the rest of the day, which targets testing 1.1066 level.
Breaking the targeted level will extend the bearish wave to reach 1.0937, while the bearish bias will remain preferred for today, unless breaching 1.1196 level and holding above it.
Expected trading range for today is between 1.1066 support and 1.1250 resistance.
Expected trend for today: Bearish
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