EURUSD attacks the resistance – Analysis - 30-01-2017
The EURUSD pair showed clear negative trading on last Friday's evening to push on the minor bullish channel's support that appears on chart, but it managed to keep its positive stability inside it, beginning this week with bullish bias to start the attempts to breach 1.0731 level, which supports the continuation of our bullish overview efficiently on the intraday and short term basis, which its next target located at 1.0852.
Therefore, the bullish bias will remain suggested in the upcoming sessions supported by the EMA50, conditioned by the price stability above 1.0655 level, as breaking this level will put the price under negative pressure that threats the most important support to the short term trading at 1.0581.
Expected trading range for today is between 1.0655 support and 1.0852 resistance.
Expected trend for today: Bullish
Therefore, the bullish bias will remain suggested in the upcoming sessions supported by the EMA50, conditioned by the price stability above 1.0655 level, as breaking this level will put the price under negative pressure that threats the most important support to the short term trading at 1.0581.
Expected trading range for today is between 1.0655 support and 1.0852 resistance.
Expected trend for today: Bullish
Trade active
The EURUSD pair provided strong negative trading yesterday to touch 1.0620 level and rebounds upwards quickly from there, to witness the signs of the bullish channel that carries trading since the beginning of this month, and the price returns to fluctuate near the key resistance 1.0731, waiting to breach this level to confirm opening the way to extend the pair's gains to reach 1.0852 on the near term basis.Stochastic provides positive signals now, which makes us believe that the chances are valid to continue rising in the upcoming sessions, taking into consideration that breaking 1.0630 followed by 1.0581 levels will stop the suggested bullish trend and lead the price to turn to decline.
Expected trading range for today is between 1.0630 support and 1.0852 resistance.
Expected trend for today: Bullish
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.