EURUSD – Closing in on Massive Resistance

By Unknown

Kamis, 04 Agustus 2016

EURUSD – Closing in on Massive Resistance

The euro continued its impressive move higher for a third day Friday, after rallying 2.75% on more low on Wednesday, where he found support from the descending trend line, it broke above the previous week.

1.13 the pair crossed with relative ease despite facing initial resistance causing a small correction.

it opened a movement toward a key area of ​​resistance, how we should get a much better idea of ​​the strength of this rally.

There are a lot of resistance between 1.1525 and 1.14, which will provide an important test for the EURUSD bulls.

it was a media key area and strength this year and on this occasion, the descending trend line from last May 8 years and 233 days simple moving average will combine to make it even stronger.

this does not mean that it certainly will not be broken, but if it is, it is a very bullish signal. To this number of technical resistance levels will have a very strong push for bulls and could trigger a rather aggressive push later, a movement fundamentals really justify not now.

Alternately, the pair could run into resistance here, how the decline following could provide a strong insight into the next movement of the pair. A small correction and another rally suggests the market remains bullish, even at these levels. Anything larger could see 1.08 come under pressure, the lower end of the trading range, it is now in.

[ad_2]
Read More : EURUSD – Closing in on Massive Resistance

Share :

Facebook Twitter Google+