EURUSD DAILY VIEW

The London and New York Sessions have pushed the EURUSD slightly lower, and my bullish sentiment is still in place. In the daily view (seen below) higher highs and higher lows are still being made and the Daily 23.6 Fibonacci retracement level is holding as support, which is is in range of the most recent previous high in the daily view.

EURUSD 4 HOUR VIEW

In the 4 Hour view, the EURUSD has adjusted down to the 61.8 Fibonacci retracement level of the most recent bullish rally, which is a very powerful buy zone for bulls.

EURUSD 1 HOUR VIEW

In the 1 Hour view the EURUSD is finding support at WM2 at 1.1162 and DM1 at1.1166

EURUSD 15 MIN VIEW

In the 15 Min view you can see more clearly that WM2 is providing support and that the 55 is in control, which can be indicative of a pending double bottom.

Price action on the EURUSD is currently bearish, which gives added value and opportunity to the bulls once price finds its floor and continues in the direction of the prevailing bullish market trend on the EURUSD.

The upper trend lines shown are helpful as bullish trade filters.

Kind regards,

Tyler Lund

US Dollar Analyst, FOREX.TODAY

3.23.16