FX.co ★ Daily analysis of EUR/USD for April 27, 2016

Overview

The EUR/USD pair managed to confirm a breach of the 1.1295 level after ending yesterday's trading above it. This puts the price back inside the bullish channel shown on the chart and opens the way to resume the bullish wave, which next targets are located at 1.1494 and then 1.1700. Therefore, the bullish bias will be suggested for the upcoming sessions unless breaking the 1.1264 level and holding with a daily close below it. Stochastic attempts to get rid of its negativity now and gather enough positive momentum to push the price to resume the expected rise.

The expected trading range for today is between the 1.1200 support and the 1.1420 resistance.