novvoll12
Long

EURUSD Bullish Breaks above 5-week falling trendline for higher

FX_IDC:EURUSD   EURO / US DOLLAR
132 0 3
EURUSD             rallied off 1.0846 (August 5, 2015 low) to break above 5-week falling trendline (as shown on the 240 minute chart) to project further gains towards 1.1114/1.1129 next. Clearing there would complete a base over 1.0846 and trigger strength towards 1.1216 and possibly 1.1278. The immediate support lies at 1.1017 ahead of 1.0958. However, bears reclaiming 1.0958 would dampen the bullish tone.

Outlook:
Short term: bullish
Long term: neutral
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