EURUSD fails to confirm the break – Analysis - 17-06-2016

The EURUSD pair couldn’t confirm breaking the bullish channel’s support that appears in the image after the strong negative attempt that appeared yesterday, which makes the trading bounce to the upside clearly and settles above this level, and according to the trading rules within the price channels, so this factor supports the chances for resuming the bullish trend within the mentioned bullish channel, especially that stochastic provides positive overlapping signal on the four hours time frame.

Therefore, the bullish bias will be preferred in the upcoming sessions conditioned by holding above 1.1160 level, and the targets begin at 1.1356 and extend to go further towards 1.1614 after breaching the previous level.

Expected trading range for today is between 1.1100 support and 1.1356 resistance.

Expected trend for today: Bullish