EURUSD gets the positive momentum – Analysis - 25-07-2017

EURUSD gets the positive momentum – Analysis - 25-07-2017

25 July 2017, 11:16
Roman Vashchilin
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The EURUSD pair continues to fluctuate around 1.1650 level since yesterday, while stochastic managed to get rid of its negativity to reach the oversold areas, noticing that the indicator approaches from providing positive overlapping signal on the four hours' time frame, which forms positive factor that we expect to assist to push the price to resume the bullish trend again.

 

Therefore, we will continue to suggest the bullish trend in the upcoming sessions, organized inside the bullish channel that appears on chart, supported by the EMA50 that keeps carrying the price from below, noting that our next target rises to 1.1750, while achieving it conditions holding above 1.1545.

 

Expected trading range for today is between 1.1570 support and 1.1750 resistance.

 

Expected trend for today: Bullish

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