EURUSD has experienced strong bullish momentum and is now approaching the resistance level of 1.01370 from where we can expect a pullback.
Possible retracement targets are 0.99430 and 0.98700.
Watch for price rejection on trendline resistance before going short.
Possible retracement targets are 0.99430 and 0.98700.
Watch for price rejection on trendline resistance before going short.
Note
Price retraced to the first target 0.99430 and then rallied to the trend line resistance.Bullish momentum wasn't strong enough to close above it, suggesting price could drop to the second retracement target.(0.98700).
Alternatively, breaking the resistance will open the way to 1.03350
Note
Price broke the resistance and rallied to 1.03350 surpassing it, and is now heading to 1.03700 from where we should expect short-term selling towards the broken trend line resistance.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.