Yestarday's rally seemed to be a fake hope for the bulls, as the EurUsd failed to close above its EMAs, and its Old trend, drawn in Orange. The Major resistance consists of its EMAs, its 1.12239 resistance level, and its Orange trend line.
Unless the major resistance is clearly cut, the current movement suggests the past couple of days to be the triangle's throwback. In this case the target is around 1.10284, with 1.11118 as a primary objective, a support level it has reached few days ago.
A clear cut through the major resistance area, will send it back to a bullish market with 1.13373 as an objective, and 1.12604 as a primary objective.
The daily Pivot Point is around 1.12299. The daily support levels are around 1.11639 and 1.10986. The daily resistance levels are around 1.12952 and 1.13612.
Unless the major resistance is clearly cut, the current movement suggests the past couple of days to be the triangle's throwback. In this case the target is around 1.10284, with 1.11118 as a primary objective, a support level it has reached few days ago.
A clear cut through the major resistance area, will send it back to a bullish market with 1.13373 as an objective, and 1.12604 as a primary objective.
The daily Pivot Point is around 1.12299. The daily support levels are around 1.11639 and 1.10986. The daily resistance levels are around 1.12952 and 1.13612.
