EURUSD needs the positive momentum – Analysis - 19-07-2017

EURUSD needs the positive momentum – Analysis - 19-07-2017

19 July 2017, 12:02
Roman Vashchilin

The EURUSD pair shows some slight bearish bias after approaching from 1.1600 barrier yesterday, as the price is affected by stochastic negativity, waiting to get rid of the negative momentum and gain enough positive momentum to push trading to resume the main bullish trend that moves organized inside the bullish channel that appears on chart, noting that the next target is located at 1.1710.

The EMA50 keeps providing the positive support to the price, taking into consideration that the continuation of the expected bullish trend depends on holding above 1.1418 and 1.1360 levels.

Expected trading range for today is between 1.1450 support and 1.1650 resistance.

Expected trend for today: Bullish

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