Salzworth

Outlook on EURUSD: Bullish play seen

Long
FOREXCOM:EURUSD   Euro / U.S. Dollar
Hi everyone, prices are sitting on a key 61.8% fibonacci retracement which lines up with our graphical support low. A pullback to test the support zone at 1.1758 presents an opportunity to play the bounce. We do caution the limited upside as of now as prices are still holding below the descending trend line and a break above that is needed for further bullish momentum to be seen.