The EURUSD tests the key support – Analysis

The EURUSD pair continued to decline yesterday to test the key support 1.0515, noticing that the price consolidated above this level to start providing positive trades now, accompanied by witnessing positive signals through stochastic, which encourages us to suggest the bullish bias, waiting to visit 1.0625 followed by 1.0745 levels as next main stations.

On the other hand, we should note that breaking 1.0515 will stop the expected rise and press on the price to achieve additional decline that targets 1.0425 followed by 1.0285 levels as next negative stations.

The expected trading range for today is between 1.0500 support and 1.0660 resistance.

The expected trend for today: Bullish

Comment:

The EURUSD pair shows additional positive trades to touch our first waited target at 1.0625 and attempts to breach it, reinforcing the expectations of continuing the bullish trend in the upcoming sessions, paving the way to head towards our next target that reaches 1.0745, to continue suggesting the bullish trend unless breaking 1.0515 and holding below it.

The expected trading range for today is between 1.0500 support and 1.0660 resistance.

The expected trend for today: Bullish

Trade active:

The EURUSD tests the support

The EURUSD pair settles at 1.0515 support line, as the price keeps its consolidation above this level, accompanied by witnessing clear positive signals through stochastic, to believe that the chances valid to resume the main bullish trend, which its targets begin at 1.0625 and extend to 1.0745 after surpassing the previous level.

Therefore, we will continue to suggest the bullish trend for the upcoming period, noting that breaking 1.0515 will push the price to achieve additional decline that targets 1.0425 areas initially.

Trade closed: target reached