EURUSD Technical Analysis 9-7

EURUSD Technical Analysis 9-7

The pair shows sideways trading today after breaking yesterday the 1.12 level due to worst than expected ISM number from USA, EURUSD affected by stochastic negativity that might push the price to test the support base formed above 1.1196 level.

The bullish trend scenario still active as long as the mentioned level remains intact, supported by the EMA50, but looks like has run for now out of steam and a small correction is the most possible scenario.

Support: 1,1240 1,1215 1,1200

Resistance: 1,1257 1,1280 1,1300

Trend: Bullish

Find out How to Draw Trend Lines

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