FX.co ★ Daily analysis of EUR/USD for February 24, 2017

Overview

The EURUSD pair achieved an initial breach of the first critical resistance level at 1.0581 to begin testing the resistance of the falling wedge at 1.0600. A breach of these levels will stop the suggested bearish trend in our last reports and push the price to achieve gains that begin at 1.0731. In general, the suggested scenario will remain valid unless breaching and holding above 1.0600. The awaited target of the current bearish wave is located at 1.0455. The expected trading range for today is between the 1.0455 support and the 1.0650 resistance.