EURUSD faces solid resistance – Analysis - 17-01-2018

The EURUSD pair continued its bullish rally by today's opening to attempt to breach 1.2300 barrier, without managing to hold above it until now, to show some bearish bias again, and it might witness new test to 1.2195 areas before turning back to rise again.

In general, we will continue to suggest the bullish trend for the upcoming period conditioned by holding above the last level, supported by the EMA50 that keeps carrying the price from below, reminding you that our next main target extends to reach 1.2565, while breaking 1.2195 represents negative factor that will push the price to test 1.2092 areas initially before any new attempt to rise.

Expected trading range for today is between 1.2195 support and 1.2350 resistance.

Expected trend for today: Bullish