EURUSD resumes rising – Analysis - 29/04/2016

The EURUSD pair opens today’s trading with bullish bias to approach from the key resistance that formed strong obstacle against the price positive attempts recently at 1.1420, thus, the price needs to breach this resistance to confirm the continuation of the bullish trend on the short term basis, to open the way to target 1.1494 followed by 1.1700 levels.

The EMA50 provides positive support to the price, which encourages us to suggest breaching the mentioned resistance and achieve more gains in the upcoming period, reminding you that holding above 1.1264 represents key condition to the continuation of the suggested bullish wave.

Expected trading range for today is between 1.1300 support and 1.1520 resistance.

Expected trend for today: Bullish