Saturday, July 18, 2020 10:29 AM EDT
EURUSD Yesterday’s chart analysis
The price reacted on yesterday’s trading session when the London session was active. The price has moved higher to the previous high. The previous high is the $1.14373 level which is high on Thursday and Wednesday trading day.
That level was reached at the same time on each day. That is when the London and New York trading session are active. Yesterday the price stopped at that level and a small bearish candle formed which lasted until the market closed.
What we can see on the chart yesterday is that we have a bullish end of the week.
EURUSD Chart Forecast
The price closed above the previous resistance level which is now support level, $1.14373. The uptrend resistance line is not broken which will be the next step to do for the price on Monday.
Daily candle is bullish engulfing candle on the breakout point so I am giving more confidence in the future bullish run to the $1.15000.
The next week we could see the price on that level. One thing that could make a problem for the price reaching that level is the uptrend resistance line. Will that line push the price back to $1.14000 and stall the price from moving higher is something we need to see.
If the price reaches $1.14000 we could see a nice entry point.
Entry EURUSD: If you want to see how to play this scenario join G-Trader. If you want to know how much pips EURUSD moves each day in a week or how much it moves on
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Entry EURUSD: If you want to see how to play this scenario join G-Trader. If you want to know how much pips EURUSD moves each day in a week or how much it moves on London or New York trading session, you should check this article: EUR/USD Pip Range Analysis
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