EURUSD pushes again – Analysis - 31-01-2017

The EURUSD pair provided strong negative trading yesterday to touch 1.0620 level and rebounds upwards quickly from there, to witness the signs of the bullish channel that carries trading since the beginning of this month, and the price returns to fluctuate near the key resistance 1.0731, waiting to breach this level to confirm opening the way to extend the pair's gains to reach 1.0852 on the near term basis.

Stochastic provides positive signals now, which makes us believe that the chances are valid to continue rising in the upcoming sessions, taking into consideration that breaking 1.0630 followed by 1.0581 levels will stop the suggested bullish trend and lead the price to turn to decline.

Expected trading range for today is between 1.0630 support and 1.0852 resistance.

Expected trend for today: Bullish