EURUSD begins with bullish gap – Analysis - 24-04-2017

The EURUSD pair opened this week trading with a strong bullish gap affected by the French election results, which allowed the price to hit our waited target at 1.0852, but it returns to show some calm decline and moves below it, which might push the price to cover this gap before resuming the bullish trend.

In general, we keep preferring the main bullish trend if the price settled above 1.0731 level, and confirming breaching 1.0852 will extend the pair’s gains to reach 1.0973 as a next main station, pointing that the EMA50 and stochastic provide positive signals that supports the suggested rise.

Expected trading range for today is between 1.0731 support and 1.0950 resistance.

Expected trend for today: Bullish