The EURUSD pair ended last Friday’s trading above 1.2304 level, moving above the EMA50 that provides positive support to the price now, which supports the chances of resuming the main bullish trend after stopping the bearish correction at 38.2% Fibonacci level recently. On the other hand, the price still below the main bullish channel’s support line, and stochastic provides clear negative signals now, which forms an obstacle against the price mission to rise. Therefore, we prefer staying aside temporarily until the price manages to breach one of the next trend keys represented by 1.2304 support and 1.2410 resistance, noting that breaking the mentioned support will bring the price back to the correctional bearish track that its next target located at 1.2160, while breaching the resistance will push the price to target 1.2536 initially.
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