Technical analytics

EURUSD market technical outlook

EURUSD

Daily chart:

Bulls spent yesterday’s session aggressively, that drove to break of the important psychological resistance level 1.1500. Thus after local correction we can again expect growth of the euro in direction of the next highs 1.1600 and 1.1650.

Approximate area of pullback completion is the pivot-zone 1.1480-1.1500.

H1-chart:

Local upward structure already has fully completed correction, that gives buyers an opportunity to attack from current levels. But more likely scenario seems to be reach of the 1.1475 level.

Conclusions:

So, we expect decline to the 1.1475-1.1500 area and afterwards the quotes may spike again in direction 1.1600 and 1.1650.

Trading recommendations:

Longs from the 1.1475-1.1500 zone towards 1.1600 and 1.1650.