EURUSD Extremely bullish targeting 1.0600 and 1.0700.

The EURUSD pair is having a strong rebound on the 4H MA50 (blue trend-line). The very same rebound we last saw on November 10 and October 21 during this 2-month uptrend. Common characteristic was that the 4H RSI was where the green arrows show. This is an almost perfect symmetry on this rising pattern.

Those two previous rallies rose by at least +4.00%. The natural technical targets of this rise are the 1.06135 Resistance (1) and the 1.07925 Resistance (2). If however a +4.00% rise is repeated, expect EURUSD to hit both 1.0600 and 1.07000 on the short-term.

A break below the 4H MA50 can reverse this short-term to the 4H MA200 (orange trend-line) and the 1D MA50 (yellow trend-line) which form the long-term Support Zone.


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