EURUSD awaits the bullish rebound – Analysis - 24-03-2017

The EURUSD pair shows slight bearish bias since yesterday evening to fluctuate near 1.0765, by looking deeper to the chart, we find that the last decline is confined within falling wedge pattern that appears in the image, due the positivity of this pattern, so we need to breach its resistance at 1.0780 to activate the positive effect of this pattern, which assists to push the price to resume the main bullish trend.

Therefore, we keep preferring the bullish trend in the upcoming sessions, supported by stochastic and the EMA50 positivity, reminding you that our main waited targets begin at 1.852 and extend to 1.0973, while holding above 1.0731 represents an important condition for achieving the suggested targets.

Expected trading range for today is between 1.0700 support and 1.0900 resistance.

Expected trend for today: Bullish