Last week we analysis EURUSD was sideways but the end of last week Paid hit Resistance 1.0990 and now this week correction downside 200+ pips towards support level 1.0813 and 1.0690
The resistance of the EUR/USD pair has broken; it turned to support around the price of 1.0813 yesterday. The level of 1.0813 coincides with a major support today because the trend is still showing strength above it.
Accordingly, the pair is still in the uptrend from the area of 1.0813 and 1.0800. The Eur/USD pair is trading in a bullish trend from the last support line of 1.0813 towards the first resistance level at 1.0901 in order to test it. This is confirmed by the RSI indicator signalling that we are still in the bullish trending market. Now, the pair is likely to begin an ascending movement to the point of 1.0901 and further to the level of 1.0952. The level of 1.0990 will act as second resistance and the double top is already set at the point of 1.0980. At the same time, if a breakout happens at the support levels of 1.0813, then this scenario may be invalidated. But in overall, we still prefer the bullish scenario as long as the price is set above the spot of 1.0813.
🛑SUPPORT/RESISTANCE
✅S1= 1.0820
✅S2= 1.0760
✴️R1= 1.0920
✴️R2=1.0980
The resistance of the EUR/USD pair has broken; it turned to support around the price of 1.0813 yesterday. The level of 1.0813 coincides with a major support today because the trend is still showing strength above it.
Accordingly, the pair is still in the uptrend from the area of 1.0813 and 1.0800. The Eur/USD pair is trading in a bullish trend from the last support line of 1.0813 towards the first resistance level at 1.0901 in order to test it. This is confirmed by the RSI indicator signalling that we are still in the bullish trending market. Now, the pair is likely to begin an ascending movement to the point of 1.0901 and further to the level of 1.0952. The level of 1.0990 will act as second resistance and the double top is already set at the point of 1.0980. At the same time, if a breakout happens at the support levels of 1.0813, then this scenario may be invalidated. But in overall, we still prefer the bullish scenario as long as the price is set above the spot of 1.0813.
🛑SUPPORT/RESISTANCE
✅S1= 1.0820
✅S2= 1.0760
✴️R1= 1.0920
✴️R2=1.0980
Trade closed: target reached:
1ST Target closed +60 pips
Comment:
2nd tp hit +135 pips
Trade closed: target reached