unique4x
Long

Ready To Monitor EURUSD Resistance at 1.1387

FX:EURUSD   Euro / U.S. Dollar
Ready to monitor resistance at 1.1387.

EUR/USD             keeps on pushing higher. Hourly
resistance lies at 1.1387 (20/11/2015 high). Hourly
support may be found at 1.0711 (05/01/2016
low). Yet, expected to show further increase.

• In the longer term, the technical structure
favors a bearish bias as long as resistance
holds. Key resistance is located region at 1.1453
(range high) and 1.1640 (11/11/2005 low) is likely
to cap any price appreciation. The current
technical deterioration favors a gradual
decline towards the support at 1.0504 (21/03/2003 Low).
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