Prabhu.Ram

Trading above the recent confluene resistance.

Long
FX:EURUSD   Euro / U.S. Dollar
241 views
3
Hello traders,
this is an update to yesterday's analysis where we had moved the S/L to 1.2410. Though the market threatened that level, it did not hit it and today it has shown a significant intent to break above the recent confluence resistance at around 1.2480. I expect the market to challenge the high at around 1.2590. there are three moments at this level. It is a recent high, its the target of the harmonic ABCD pattern we had worked on yesterday and also it is the minor .23 Fib resistance. The market is expected to show some resistance around this level. But it would still not threaten the context of the bullish wedge .
That is all for now on this pair.
Happy trading and happy pippin!

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