EURUSD Daily Analysis 05-02-2018

5 February 2018, 06:42
Jatin Patel
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*EURUSD needs strong positive motive – Analysis - 05-02-2018*


The EURUSD pair begins today’s trading with slight bullish bias in attempt to move away from the key support 1.2390, getting continuous positive support by the EMA50, which keeps the chances valid to continue the overall bullish trend.

 

Therefore, we will keep our positive overview for today unless breaking 1.2390 level and holding below it, as breaking it will push the price to extend the bearish correction and target 1.2300 areas initially, while the price needs to beach 1.2536 level to confirm rallying towards 1.2700 that represents our next main target.

 

Expected trading range for today is between 1.2390 support and 1.2550 resistance.

 

Expected trend for today: Bullish

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