The
fundamentals today pushed EUR/USD to move to the upside and break out above the
last high at 1.7220 but there was already a signal for a likely impending rally
before the news came out. The pair had formed an obvious spinning top
candlestick on the monthly time-frame at the support at 1.1500 so all it took
for it to rally was the aforementioned push. Currently the pair is still very
bullish and it may continue rising towards the next obvious resistance at
1.1800. Apart from that, a breakout above that level could lead to a further
move to the upside towards 1.1875, which is the (MA)89 indicator on the daily
time-frame, and then towards 1.2080, which is the same indicator, but on the
monthly time-frame.
Let's see whether there will be a breakout above 1.1800.
ReplyDeleteIt could have found some support to try a bullish leg.
ReplyDeleteUseful info, thank you for sharing!
ReplyDeleteBullish trend is not over yet.
ReplyDelete