ForceFollower

EURUSD D1: At A Key Decision Point

FX:EURUSD   Euro Fx/U.S. Dollar
If EURUSD             continues rising above 1.15, it will mean it's bullish indeed, taking out the second major high. In this scenario we can expect price to retrace by 38.2% of the nine-month decline. On the other hand, this market may find strong resistance at the upper median line parallel, and give in just below this second major high.
The odds are with the buyers, as the USD continues being one of the weakest currencies, while the EUR is neutral or even relatively slightly strong (though not as strong as the CHF or GBP).
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