The EURUSD faces solid resistance – Analysis - 22-01-2020
Economies.com
2020-01-22 05:46AM UTC
The EURUSD pair provided positive trades yesterday but it hit solid resistance barrier formed by the EMA50, to rebound bearishly and test the bullish channel’s support line again, accompanied by stochastic entering the oversold areas, waiting to motivate the price to resume the bullish bias in the upcoming sessions to head towards 1.1180 that represents our first positive target.
Therefore, we will keep our bullish overview for today conditioned by the price stability above 1.1065, as breaking it will press on the price to achieve additional decline that targets testing 1.0985 level as a next negative station.
The expected trading range for today is between 1.1040 support and 1.1180 resistance.
The expected trend for today: Bullish
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