EURUSD – Up
Technical observation
EUR has been trading with an increasing bullish bias since it bounced within the supportive zone 1.0410-1.0372, but with the last two consecutive candles it declined to the lower side, this bearish movement is a slight correction to the zone I have mentioned above and my expectation is a rally to the level 1.1123. At the resistance level 1.1123 I expect either a clear break above it with a big green candle or a rejection of price at it, in case of a break above the level I have indicated above, wait for a correction to it before you continue long with this pair, and should there be a bounce at the same level, wait for a pullback to the zone 1.0410-1.0372 to buy EUR.
Trade recommendation
Remain neutral.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
