novvoll12

EURUSD neutral – 5-wk triangle breakout should support pullback

FX_IDC:EURUSD   Euro / U.S. Dollar
EURUSD             pulled back from the 1.1214 high (August 12, 2015) near the 5-week high at 1.1216. While the 1.1080/1.1060/1.1032 cluster of supports hold the dips, back above 1.1214/1.1216 would signal return of strength to extend the upleg towards 1.1278 and the 200 day moving average currently at 1.1360 (also near the 5-month triangle upper bounds. However, if a clean break below 1.1060/1.1032 (near 5-week triangle former resistance, now support), that would negate the upside and resume weakness towards 1.0846.
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