novvoll12
Long

EURUSD bullish – Potential for higher towards resistance cluster

FX:EURUSD   Euro / U.S. Dollar
42 0 1
EURUSD             @ 1.0976 bullish – Potential for higher towards resistance cluster

EURUSD             extended the strong rebound off the 1.0517 weekly, reversal low (November 30, 2015) to reach 1.1043 (December 7, 2015 weekly high), retracing over 50% of the 1.1494/1.0517 fall. The daily indicators remain positive, suggesting there is scope for further gains towards the next resistance cluster including 1.1051 (20 week moving average), 1.1105 (September 21, 2015 range low), and 1.1123 (61.8% of the 1.1494/1.0517 fall) which is beneath the 18-month down trendline from May 5, 2014 peak).
However, on a pullback, the pair has to break down below the 1.0796 support (December 7, 2015 weekly low) to signal the end of recovery and weaken towards 1.0517 for a retest.

Outlook:
Intraday: bullish
Daily: bullish
Weekly: neutral
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out