The EURUSD is slowly breaking above the 4 hour bearish trend line it has been respecting.

Support is being held by the midpoint psychological level 1.11500 and there are 4 hour highs at 1.11865 which should be breached to consider this a bullish trading opportunity.

I would look for the highs at 1.11865 to be broken and then would wait for a pullback which would test 1.11865 as support, or a fib retracement level within range.

If support at 1.11500 is broken, then I would wait for price to pullback and test it as resistance before considering a bearish position.

EURUSDH4 TRI

Below are the daily pivots with the previous highs highlighted which should be broken before considering a long position…

PREV HIGH DAY PIV

Below is the EURUSD 4H chart which shows that price has pulled back to the 38.2 retracement level of the rally up which is giving additional support to the midpoint psych level 1.11500

Upper weekly / monthly resistance to be considered, Monthly R1 is at 1.1227 and the Weekly Central is at 1.1222

News to be aware of today for the US Dollar isย Final GDP q/q

This news event is marked as red on Forex Factory and comes out at 5:30 AM Pacific here in the United States.

 

EURUSDH4 PREV HIGH

Kind Regards,

Tyler Lund

US Dollar Analyst, FOREX.TODAY

3.23.16

4 thoughts on “EURUSD NEW YORK OUTLOOK MARCH 25”

  1. Imad khoury says:

    always very good and beautifull analysis – Thank you Tyler

  2. Tyler Lund says:

    Glad you are finding the work helpful…

  3. Maciej says:

    This is brilliant I much appreciate your articles very helpful. Just need to be here on time ๐Ÿ™‚ Thanks Tyler

  4. Tyler Lund says:

    Thanks Maciej

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