Technical Analysis on EURUSD Video
EURUSD Breaks Several Resistance, Bullish Bias.
EURUSD is going bullish that was expected from our previous analysis. The week we passed was a less volatile week. Most of the pair was in a pullback or retracing mood because the previous week was a highly volatile week. EURUSD also is in retracing mood.
From the weekly view, we can see the pair facing a large demand zone, the price has bounced back several times from this Demand area. Now it is showing slightly bullish Bias. The whole week we passed where the price was in consolidating movement and closed as a small bearish candle.
From the daily view, the pair has broken two resistances and moving up. Now is it is retracing mood to retest the broken resistance and those are now working as support. The recent high was at 1.1345 that also has been broken and create the new high and now it is pulling back.
It is expected that the bullish movement will be continuing targeted 1.14465 followed by 1.15565. The nearer strong support at 1.1115 and If the price breaks the support the scenario will be reversed.
There are some important fundamental events on the upcoming week for the currency USD including Non-Farm payroll. And those events can affect the movement of the Pair EURUSD.
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