EURUSD gets the positive momentum – Analysis - 23-08-2017

The EURUSD pair settles inside the minor bearish channel that appears on chart, which we are waiting to form continuation bullish flag pattern after breaching its resistance at 1.1780, noticing that stochastic reaches the oversold areas to form positive motive that we expect to assist to achieve the required breach followed by activating the positive pattern.

Therefore, we will continue to suggest the bullish trend in the upcoming sessions conditioned by holding above 1.1724, as breaking this level will push the price to extend its bearish correction towards 1.1608 mainly, while the expected bullish wave targets begin at 1.1911 and extend to 1.2040.

Expected trading range for today is between 1.1700 support and 1.1880 resistance.

Expected trend for today: Bullish