EURUSD: New upside movement due to pullback From Support 1.1160
Technical Market Outlook:
The EUR/USD pair has tested the lower level of the support range located at 1.1165 and bounced towards the short-term trend line resistance located around the level of 1.1265. Pair Remain in sideways to bulls side we expecting to test the nearest technical resistance 1.1325 if price break above 1.1325 we could see another Resistance upside 1.1425.
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Any violation of the level of 1.1148 will accelerate the sell-off towards the next technical Monthly support seen at 1.1040. So, it is important for bulls to defend this level.
Since start June many bearish candle signal showing on the monthly base chart.
1- 5th June (Shooting Star)
2- 10th June (Pin Bar)
3- 16th June ( Doji Candle)
4- 19th June ( Bearish Engulfing)
5- 22nd June ( Short Term Trend Break line)
🛑SUPPORT/RESISTANCE
✅S1= 1.1165
✅S2=1.1040
✴️R1=1.1325
✴️R2=1.1430
Long term Outlook EURUSD:
On the EUR/USD pair, the main long-term trend is down, but the local uptrend continues. The key long-term technical support is seen at the level of 1.0780 and the key long-term technical resistance is seen at the level of 1.1540. Only if one of these levels is clearly violated, the main trend might reverse (1.1540) or accelerate (1.0786) And more sell off 1.0450
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Thank you for your support, I appreciate it.
The EUR/USD pair has tested the lower level of the support range located at 1.1165 and bounced towards the short-term trend line resistance located around the level of 1.1265. Pair Remain in sideways to bulls side we expecting to test the nearest technical resistance 1.1325 if price break above 1.1325 we could see another Resistance upside 1.1425.
👍 Before we start, please support this idea with your likes and comments, it is the best way to keep it relevant and support me.
Any violation of the level of 1.1148 will accelerate the sell-off towards the next technical Monthly support seen at 1.1040. So, it is important for bulls to defend this level.
Since start June many bearish candle signal showing on the monthly base chart.
1- 5th June (Shooting Star)
2- 10th June (Pin Bar)
3- 16th June ( Doji Candle)
4- 19th June ( Bearish Engulfing)
5- 22nd June ( Short Term Trend Break line)
🛑SUPPORT/RESISTANCE
✅S1= 1.1165
✅S2=1.1040
✴️R1=1.1325
✴️R2=1.1430
Long term Outlook EURUSD:
On the EUR/USD pair, the main long-term trend is down, but the local uptrend continues. The key long-term technical support is seen at the level of 1.0780 and the key long-term technical resistance is seen at the level of 1.1540. Only if one of these levels is clearly violated, the main trend might reverse (1.1540) or accelerate (1.0786) And more sell off 1.0450
Please like, share, comments and follow me to get daily base analysis.
Thank you for your support, I appreciate it.