Razvan

EURUSD - is the up move finished?

FX:EURUSD   Euro Fx/U.S. Dollar
1158 10 21
EURUSD             got stuck under 1.1220. A break of uptrend's trend line would signal, from my point of view, a drop back towards 1.1120. A 60 minutes close above the local             resistance could signal a continuation of the up move towards 1.1280.
Trade closed: target reached
This is hard call, in fact. On one side, the main thing was that on the daily chart the pair seems to have closed above 1.1180, which is our key support level at this moment.
In this case, it would look like a bullish engulfing and the pair should go all the way up towards the first main resistance, at 1.1393.
On the other hand, it actually closed "somewhere around" 1.1180, so I am myself uncertain.
USDJPY closed below 121, so I feel that EURUSD is going up.
+1 Reply
Razvan Nicemate
1.1393 is pretty far away. I also think that there is a higher probability to go up in the next several hours.
Reply
Yes, you are right. I was actually looking at the main resistance. Possibly, the level to look at would be the 1.1260 - 1.1280 area, from which we could have a pullback all the way back to the 1.1070 area.
+1 Reply
Razvan Nicemate
Technical will work until Yellen's speech!
Reply
IF we don't surpass the high of the day that we've had today, then possibly...
+1 Reply
Razvan Tom_Killick
It might just surpass it. I would really like to see a close above the resistance.
+1 Reply
Yeah it could happen. Daily showing nice buying pressure yesterday @ the 50- in an interesting zone !, today will reveal the near future trend of this pair I think.

Best of luck with your trades.
Tom
+1 Reply
Razvan Tom_Killick
Best of luck for you too. Thanks! Yeah...the trend might be given by what granny Yellen will say.
+1 Reply
EURUSD broke above local resistance, it is now testing the 38.2 Fibo retrace from the entire drop. We might see a rally towards 1.1280, 1.1300
EURUSD - Nobody wants Euros, but...
Reply
Fantastic !
+1 Reply
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