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2/22/2016 2:31:48 AM

EURUSD tries to garner positive momentum - Technical Analysis - 22-02-2016



EURUSD dipped in the short term as the pair tries to gather positive momentum that'd help it rise again and retest the ceiling of a descending price channel that limited the pair's previous short-term movements, confirming the exit of that price channel with ongoing negative pressure from the SMA50, with an influx of positive signals from relative power indicators like the Stochastic as shown below the attached chart; therefore we expect the pair to rise again, especially if it broke through the SMA, targeting the resistance of 1.1155.


Target
Risk


Support
Resistance


Trend Bullish

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