The Euro rose to two-week high (1.0956) on Tuesday, extending Monday’s 1% rally which generated bullish signal on eventual break from larger congestion.
Bulls cracked barriers at 1.0921/21 (Fibo 38.2% of 1.1017/1.0766 / 55DMA) and focus strong resistance at 1.0962 (base of falling and thickening daily cloud, reinforced by 100DMA).
Monday’s long bullish candle underpins the action as daily techs turn to positive setup.
Penetration of daily cloud would generate further bullish signal, however, fresh bulls need clear key barriers at 1.1015/17 (200DMA / 1 May high, top of larger range) to spark stronger advance.
Res: 1.0962; 1.0970; 1.1000; 1.1015
Sup: 1.0936; 1.0902; 1.0865; 1.0851
Interested in EUR/USD technicals? Check out the key levels
- R3 1.1089
- R2 1.1008
- R1 1.0962
- PP 1.0881
- S1 1.0834
- S2 1.0753
- S3 1.0707
Roz has been engaged in the financial markets since 2017, specializing in Foreign Exchange, Before joining to FOREX IN WORLD she start to learn forex trading related information.
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