EURUSD resumes rising – Analysis - 17-07-2017

EURUSD resumes rising – Analysis - 17-07-2017

17 July 2017, 11:38
Roman Vashchilin
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The EURUSD pair traded with clear positivity on last Friday to move away from 1.1418 level, resuming its bullish track that moves organized inside the bullish channel that appears on chart, which supports the continuation of the positive scenario on the short term basis, waiting for more rise to head towards our waited targets that start at 1.1565 and extend to 1.1665.

 

The EMA50 keeps supporting the suggested bullish wave, while stochastic current negativity might cause some temporary sideways fluctuation before continuing the expected rise, taking into consideration that the continuation of the bullish trend depends on holding above 1.1418 and the most important above 1.1335.

 

Expected trading range for today is between 1.1400 support and 1.1565 resistance.

 

Expected trend for today: Bullish

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