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EURUSD Technical View, August 21
After a bearish movement EURUSD is moving slowly in this week.
According to the weekly view, EURUSD is facing a support at 1.1100. Tried to break it twice but was not able to break it successfully. From 31 July to 5th August we got a nice bullish rejection movement from the support 1.1100. The previous week the price retraces back the movement. In this week Price is moving a bit slower.
As the price rejected from the support we can expect the price to go up. The nearer resistance at 1.1230 where the price is targeting now. If the price is closed below 1.1100 in this week the bullish scenario will be invalid.
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