EURUSD– Bulls Are Pushing Higher

EURUSD bulls pushed the price from the consolidation area that is next to weekly trend line and the 1.11091level.

The price has broken out strongly with a large bullish candle and has stopped at the next resistance level. Resistance at 1.11871 is a confluence level where resistance and the H4 channel trend line cross.

A bearish Pinbar formed which suggested that the price could make a retrace. But for now the price does not look like it will make a retrace or a pullback.

Today’s EURUSD Chart Forecast

The price currently looks very bullish even it is right at the confluence level. If the price does not break out higher we could see it moving sideways and trying reaching 1.12366 level which was a strong resistance level in the past.

EURUSD Chart – Bullish Scenario

The price could move higher to the next resistance level in a day or two. Strong bullish candles are showing the bulls' strength.

EURUSD Chart – Bearish Scenario

Bears are having a tough time moving the price downwards so it looks like we will not see the price moving lower. At least for the long run. If the price closes below 1.11540, the next level of is support at 1.11091. 1.11091 is strong support level that has held the price in indecision, so it could repeat the same scenario again.

Disclaimer: Any Advice or information is General Advice Only – It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By ...

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.