Technical analytics

EURUSD market technical outlook

EURUSD
Daily chart:

We note quite ambiguous situation. From one hand, bulls have Friday upward break of bearish inside bar (and it’s a solid sign of continuation of the quotes’ growth, watch the black arrow). From the other hand - euro probes the strong PPZ 1.1315, where a probability of halt/turbulence/reversal is also very high (watch the red arrow). No one knows what will happen. But we incline to continuation of growth as a prevailing scenario.

H1-chart:

Local structure retains perfect uptrend having completed, besides, a short consolidation in the 1.1302-1.1314 range by upward break. Thus we expect further growth in direction of the 1.1370-1.1400 zone.


Conclusions:

Growth towards 1.1370-1.1400.

Trading recommendations:

Longs towards 1.1370-1.1400.

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