Time for Some Big Moves on EURUSD

Google+ Pinterest LinkedIn Tumblr +

The market continues to be near the lower bound of the yellow channel after a long decline that occurred from the upper bound of this channel to its lower wall. Now it is best to see how the market will behave near this bound. If we see a break below and the price goes below the support level of 1.1002, the bears may open the way towards the lower green wall and the support level of 1.0854.

However, if the bulls manage to start moving up, and will be able to overcome the resistance level of 1.1036, which forms the red line of the moving average, in the next coming trading days we could expect growth to the upper bound of the green channel and the resistance level of 1.1155. It is preferable to add this pair on our watchlist!


About Author

Leave A Reply