Midday update for EURUSD 19-01-2017

The EURUSD pair shows bullish bias after leaning on the EMA50 this morning, motivated by stochastic positivity that appears on the four hours time frame, which supports the continuation of the expected bullish trend scenario efficiently for today, waiting for testing 1.0731 level initially, which represents the extension of the bullish wave towards 1.0852.

Therefore, we wait for more of the bullish bias for the rest of the day conditioned by holding above 1.0581 level, pointing that you should be aware in the upcoming trading especially that we are waiting for the ECB rate decision later today, which might cause mixed trading.

Expected trading range for today is between 1.0581 support and 1.0750 resistance.

Expected trend for today: Bullish