The EURUSD price’s decline stopped at 1.1100$ barrier, to start today with bullish bias and hint heading to resume the bullish trend within the bullish channel that appears on the chart, motivated by the positive overlapping signal provided by stochastic now, waiting to head towards 1.1240$ as a next main target.
Therefore, the main bullish trend will remain active for the upcoming period, supported by the EMA50 that carries the price from below, noting that breaking 1.1100$ will push the price to suffer intraday losses and test the bullish channel’s support line around 1.1040$ before any new attempt to rise.
The expected trading range for today is between 1.1060$ support and 1.1210$ resistance.
Trend forecast: Bullish
Origin: FreshForex
