EURUSD Forecast: Bullish Correction Set to Challenge the Trendline Resistance
EURUSD Forecast: Bullish Correction Set to Challenge the Trendline Resistance
The Greenback extended its losses yesterday as the single currency continued to gain momentum since the failure to clear 1.1120 support area last week, hit 1.1229. Although the current squeeze higher is nothing but a counter trend move, the upward momentum showing no signs of ending. The bias remains bullish in the near term. After taking out resistance at 1.1175, immediate upside correction target lies at the trendline resistance which is an area runs from 1.1290 to 1.1250 as you can see on my daily chart below. Above that, 1.1325 could be the final defense for the major bearish theme. Immediate support is seen around 1.1175 (former/broken resistance, now support). A clear break back below that level could neutralized the near term bullish fashion to retest 1.1120 key support. However, note that any movement near the June 2017’s low could bring in fresh buyers.
Source: https://fxinstructor.com/blog/eurusd-forecast-bullish-correction-set-to-challenge-the-trendline-resistance
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).