EURUSD resumes rising – Analysis - 17-01-2017

The EURUSD pair consolidated well on 1.0581 level and bounced bullishly from there, to resume its bullish track that moves organized inside the minor bullish channel that appears on chart, supported by the EMA50 that keeps carrying the price from below, while stochastic shows clear positive signals on the four hours' time frame.

Therefore, these factors encourage us to continue suggesting the bullish trend in the upcoming period, and the way is open to visit 1.0731 that represents our next main target, reminding you that it is important to hold above 1.0581 and 1.0519 levels to continue the expected rise.

Expected trading range for today is between 1.0519 support and 1.0731 resistance.

Expected trend for today: Bullish