The euro and the U.S. dollar are lately oscillating between the range of 1.1230 and 1.1286 respectively.

The bulls, since the 14th of April 2016, have placed strong pressures in their attempts of taking control over the price and managed to lead the pair from 1.1230 to 1.1316.

Probable Scenario

In the scenario where the EURUSD stabilizes above the 1.1286 area, the price could escalate as high as 1.1375, Fibonacci’s 61.8%.

The Stochastic oscillator indicates that the pair has greater chances of appreciating to upper levels at the 30 zone.

EURUSD (Apr 18 2016)

Alternative Scenario

Alternatively, should the sellers take the lead and force the price below the 1.1230 area the pair could decline as low as 1.1170.

Today’s Major Announcements

  • There are no any announcements that could have an impact either on the euro or the U.S. dollar

Synopsis

  • Probable trend (Bullish): 1.1286
  • Bullish take profit target: 1.1375
  • Stop loss target: 1.1230
  • Alternative trend (Bearish): 1.1230
  • Bearish take profit target: 1.1170