EURUSD tests the channel's support – Analysis - 27-01-2017

The EURUSD pair traded with clear negativity yesterday to touch the bullish channel's support that appears on chart that rises now to 1.0670, as the price managed to hold above it, noting that this level represents the first protecting factor to the continuation of the recently suggested bullish trend scenario, besides the stability above the most important support 1.0581.

On the other hand, we notice that stochastic shows clear positive signals now, which forms positive motive that we are waiting to assist to push the price to rise in the upcoming sessions, which encourages us to keep our bullish trend expectations on the intraday and short term basis, noting that breaching 1.0731 level is required to ease the mission of heading towards our next main target at 1.0852.

Expected trading range for today is between 1.0581 support and 1.0800 resistance.

Expected trend for today: Bullish