The price of (EURUSD) extended its gains in its recent intraday levels, breaching our morning target at the resistance level of 1.1550, reinforcing the strength of the bullish trend on the short-term basis, supported by the pairs move alongside a bullish bias line, and its stability above EMA50.
This rise came despite entering the overbought levels by the (RSI), which shows the supported strong momentum for the bullish track, you should be aware of the possibility of the emergence of short-term basis correctional waves if the pair failed to keep the stability above the breached resistance.
Therefore, our expectations suggest the continuation of the (EURUSD) prices rise in its upcoming intraday trading, especially when it settles above 1.1550, to target the initial resistance at 1.1650.
Expected trading range for today: Between the support at 1.1530 and resistance at 1.1650
Todays forecast: bullish