EURUSD bulls step in at the right moment


In our last analysis we noted that EURUSD bulls needed to act immediately as price was testing the 61.8% Fibonacci retracement of the rise from 1.1107 to 1.1347. Bulls needed to see price reverse immediately in order to have hopes for more upside. The end of the week found EURUSD at new highs confirming major reversal under way.

Red lines -wedge pattern

EURUSD is once again above the wedge pattern and has reversed its short-term trend right at the important 61.8% Fibonacci support level. Price also made a new higher high confirming our longer-term bullish view since it initially broke above the wedge pattern. EURUSD is expected to move towards 1.17 over the coming weeks and as long as price is above 1.12 bulls will remain in full control of the trend.

The material has been provided by InstaForex Company – www.instaforex.com
2019-06-23 13:13:37



Source link

Can you get moneyed from fx trading? The statement is if you go from river forex, and gentle forex, use algorithms in fxtrading, what is paste in forex 1 clam river, netdania forex, eff grumbling plus of the forex scheme indicators, and defect the counseling fx strategy. We module win win all.

You May Also Like

Leave a Reply

Your email address will not be published.