The EURUSD price continues to fluctuate around 1.0960 and finds difficulty to breach it, noticing that stochastic gets rid of its negative momentum to approach the oversold areas, waiting to motive the price to resume the positive trades and breach the mentioned level to open the way to rally towards 1.1080 as a next main station.
Therefore, we will continue to suggest the bullish trend for the upcoming period, affected by the inverted head and shoulders’ pattern, supported by the EMA50 that carries the price from below, noting that breaking 1.0860 will stop the expected rise and push the price to turn to decline.
The expected trading range for today is between 1.0860 support and 1.1030 resistance.
Trend forecast: Bullish
Origin: Economies
