The EUR/USD
made a low yesterday on the 1.0800 level and from there it bounce to the
upside, all the way to the 1.0900 level, as seen on the 30 minute chart. At the
1.0900 level, the pair may find some resistance, but the bullish momentum is
still in place. Since the price has already visited the zone three times and
each visit is getting closer to each other, that could be an indication of a
possible bullish breakout. In case the price breaks to the upside, the 1.1000
could be its next target for the pair. A bounce to the downside from the 1.0900
level could take the price back down to the 1.0800.
Excellent Analysis! Thanks.
ReplyDeleteLooks like it will keep pushing higher.
ReplyDeleteIt's possible the pair is forming a double top at the resistance at 1.0980 and will start moving to the downside again.
ReplyDeleteInteresting analysis thank you.
ReplyDeleteGreat analysis!
ReplyDeleteThe pair continues to push over 1.100 level.
ReplyDeleteGreat take on markets today.
ReplyDeleteVery helpful information.
ReplyDeleteUseful post.
ReplyDelete