FX.co ★ Daily analysis of EUR/USD for April 28, 2017

Overview

The EUR/USD pair has settled at the key support of 1.0852 and is holding next to it until now. This keeps the bullish trend scenario valid until now. The bullish scenario is supported by the EMA50 that provides the price with good positive support. Besides, a stochastic is moving to the oversold area. Therefore, we are planning trading on rallies in the nearest sessions. Theits targets begin at 1.0973. Please bear in mind that breaking 1.0852 will complete a bearish formation that has the ability to make the price to cover the price gap since the beginning of this week. The gap could be filled through visiting 1.0731 level before any new attempt to rise. The expected trading range for today is between 1.0800 support and 1.1050 resistance.