EURUSD surpasses the moving average – Analysis - 17-02-2017

The EURUSD pair continued its rise yesterday to surpass the EMA50 and settles above it, which forms positive factor that supports the continuation of our bullish trend expectations efficiently on the intraday and short term basis, and the way is open for testing 1.0731 level that represents the first main target.

Therefore, we wait for more of the upside track in the upcoming sessions, reminding you that breaching the targeted level will extend the pair’s losses to reach 1.0852 as a next main station, while breaking 1.0581 will stop the expected rise and pushes the price to decline.

Expected trading range for today is between 1.0600 support and 1.0800 resistance.

Expected trend for today: Bullish