EURUSD resumes rising – Analysis - 23-11-2017

The EURUSD pair shows more rise to reach 1.1855 level, which represents neckline of an inverted head and shoulders' pattern that its signs appear on the above chart, which means that breaching it will provide strong positive motive that reinforces the chances of extending the bullish wave on the short term basis, waiting to test 1.2100 level initially, noting that breaching this level will push the price towards 1.2300 as a next main station.

Therefore, our bullish overview will remain valid for the upcoming period, supported by the EMA50 that carries the price from below, reminding you that holding above 1.1679 represents the most important condition to continue the expected rise.

Expected trading range for today is between 1.1740 support and 1.1950 resistance.

Expected trend for today: Bullish