Wednesday 8 June 2016

EUR/USD Is Still Very Bullish




Despite the doji candlestick and the spinning top candlestick on the EUR/USD daily time-frame the pair eventually broke above the two-day range and continued moving to the upside, eventually even climbing above the resistance at 1.1400. We still have to see the effect of the speech ECB President Mario Draghi will be making tomorrow, but for the moment the pair is still very bullish. The next target is likely the resistance at 1.1430, and if the pair succeeds in breaking above that level it will probably continue towards the resistance at 1.1500 again, which coincides with (MA)89 on the daily time-frame.
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5 comments:

  1. Unknown9 June 2016 at 10:22

    It couldn't climb above 1.1415 before moving to the downside again.

    ReplyDelete
  2. Unknown9 June 2016 at 12:17

    Unfaltering US bulls pushed the pair today to daily lows around 1.1310, as US fresh data upbeat the mood.

    ReplyDelete
  3. Rozen11 June 2016 at 08:02

    Good to know, thank you.

    ReplyDelete
  4. Unknown12 June 2016 at 14:54

    Good analysis, I will be watching this pair.

    ReplyDelete
  5. Unknown12 June 2016 at 15:38

    It seems it was the last breath before a significant pullback.

    ReplyDelete

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