The euro and the U.S. dollar are lately oscillating between the range of 1.0953 and 1.1030 respectively.

The bears, since the 21st of July 2016, have placed strong pressures in their attempts of taking control over the price, and managed to force the pair from 1.1060 to 1.0953.

Probable Scenario

In the scenario where the EURUSD stabilizes above the 1.1010 area, the price could escalate as high as 1.1060.

The Stochastic oscillator indicates that the pair has greater chances of appreciating to upper levels at the 65 zone.

EURUSD (July 27 2016)

Alternative Scenario

Alternatively, should the sellers take the lead and force the price below the 1.0981 area the pair could decline as low as 1.0932.

Today’s Major Announcements

  • Germany’s Consumer Confidence Survey (Aug) release could have a medium impact on the euro
  • U.S.’s Durable Goods Orders (Jun), the Fed’s Monetary Policy Statement, and the Fed Interest Rate Decision announcements will likely a have strong impact on the U.S. dollar

Synopsis

  • Probable trend (Bullish): 1.1010
  • Bullish take profit targets: 1.1060
  • Stop loss target: 1.0981
  • Alternative trend (Bearish): 1.0981
  • Bearish take profit target: 1.0932