EURUSD confirms the breach – Analysis - 02/05/2016

The EURUSD pair rallied to the upside strongly in last Friday to confirm breaching 1.1420 level after closing the weekly candlestick above it, which reinforces the expectation of moving bullishly on the short term basis, where the price approaches from the first main waited target at 1.1494, waiting for breaching this level to open the way towards heading to 1.1700 as a next main station.

The EMA50 provides continuous positive support for the price from below, to support the chances for achieving the mentioned breach and the continuation of the bullish trend in the upcoming sessions, pointing that holding above 1.1264 represents the most important condition for achieving the suggested targets.

Expected trading range for today is between 1.1400 support and 1.1600 resistance.

Expected trend for today: Bullish