Русский
The EURUSD pair ended yesterday above 1.0960 level, showing more bullish bias to approach the second key resistance at 1.0995, and as we mentioned yesterday, breaching this resistance will cancel the head and shoulders’ formation that appears on the chart and push the price to turn to rise and build bullish wave on the intraday basis.
On the other hand, we notice that stochastic loses its positive momentum and shows clear overbought signals, which might force the price to decline again and head to resume the bearish track.
Therefore, the contradiction between the technical indicators makes us prefer to stay aside until we get clearer signal for the next trend, noting that breaching 1.0995 will push the price to 1.1080 direct, while breaking 1.0960 support represents negative factor that will push the price to decline towards 1.0860 areas initially.
The expected trading range for today is between 1.0890 support and 1.1060 resistance.
The expected trend for today: Neutral
Origin: Economies
