Despite the
shooting star candlestick on the daily time-frame at 1.1860 the move to the
downside did not last long and EUR/USD bounced off from the support at 1.1710
after forming a spinning top candlestick at that level on the daily time-frame
again. Currently the pair is testing the aforementioned resistance at 1.1860
once more. If there is a breakout above that level – and it is quite likely
there will be one – the pair will probably continue rallying towards the next
resistance level, which is around 1.2035. A breakout above that resistance
could lead to a test of the last high at 1.2092 which also coincides with the
(MA)89 indicator on the monthly time-frame.
Excellent information to keep in mind.
ReplyDeleteLet's see whether there'll be a breakout.
ReplyDeleteIt could be making a double top!
ReplyDeleteThe pair is pushing higher.
ReplyDeleteThe pair is showing some strenght.
ReplyDeleteStrong bullish trend continues.
ReplyDelete