EURUSD urges caution – Analysis - 29-01-2019

The EURUSD pair continues to fluctuate at the key resistance 1.1443, and after the recent positive trades, the price hints the attempt to breach the mentioned level followed by turning to rise, supported by moving above the EMA50.

On the other hand, we notice that stochastic loses its positive momentum now, which might form negative pressure that pushes the price to decline again.

Therefore, the contradiction between the technical factors makes us prefer staying aside temporarily, and the price needs to determine its situation according to 1.1443 level to confirm its next destination clearly, noting that breaching this level will push the price to achieve gains that start at 1.1550 and extend to 1.1705, while failing to breach it will push the pair to decline again and head towards 1.1181 areas on the near term basis.

Expected trading range for today is between 1.1330 support and 1.1530 resistance.

Expected trend for today: Neutral