EURUSD retests – Analysis - 19-05-2017
The EURUSD pair settled around the previously breached resistance of the bullish channel after the clear decline that the price witnessed yesterday, noticing that stochastic begins to provide positive overlapping signal on the four hours' time frame, while the EMA50 keeps providing the positive support to the price.
Therefore, these factors encourage us to expect positive trading in the upcoming sessions, waiting to breach 1.1123 level to confirm regaining the bullish trend that its next target located at 1.1365, noting that breaking 1.1100 and holding below it will push the price to visit 1.0973 areas before any new attempt to rise.
Expected trading range for today is between 1.1010 support and 1.1250 resistance.
Expected trend for today: Bullish
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