Technical analytics

EURUSD market technical outlook

EURUSD
Daily chart:
Bulls don’t surrender! Yesterday a bearish inside bar was formed, that might become another trigger for sell-offs of the single currency. But today we see growth of the quotes with threat to break the psychological resistance 1.1300. The closest target of market is PPZ 1.1315, where almost always hold-ups take place (watch the yellow marks).

H1-chart:

Indirect attribute of further upward prospects of the euro currency is neutralizing of yesterday’s bearish setup Over&Under - bulls broke the high 1.1283-1.1287 and it seems that it’s a true break, not false. Thus we can expect start of new upswing in direction of the 1.1315 level.

Conclusions:

Continuation of growth towards 1.1315.

Trading recommendations:

Longs towards 1.1315.

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