The EURUSD, after having dropped aggressively from as high as 1.1342 to as low as 1.1140, has now stabilized slightly above today’s major pivot point area, the 1.1140 level.

Stochastic oscillator’s latest formation shows a pattern of a steady appreciation at the 30 level where the pair is expected to retrace to the upside.

Probable Scenario

In the condition where the pair stabilizes above the 1.1140 level and the upside pressures somehow get more tensed, the price could rise to the 1.1342 zone, Fibonacci’s 100.0%.

Should the bulls gain the control over the price in today’s session, then the recent downside formation will be transformed into a bullish promising pattern.

EURUSD (Mar 25 2016)

Alternative Scenario

Alternatively, in the event where the bearish pressures force the pair below the 1.1084 zone, the price could drop to 1.0942.

Today’s Major Announcements

  • There are no any major releases on the euro
  • The Gross Domestic Product Price Index (Q4), the Gross Domestic Product Annualized (Q4), the Personal Consumption Expenditures Prices (QoQ) (Q4), and the Core Personal Consumption Expenditures (QoQ) (Q4) releases are expected to have a medium impact on the U.S. dollar

Synopsis

  • Probable trend (Bullish): 1.1140
  • Bullish take profit target: 1.1342
  • Stop loss target: 1.1084
  • Alternative trend (Bearish): 1.1084
  • Bearish take profit target: 1.0942