EURUSD’s upward movement from 1.0494 extended to as high as 1.0905. Further rise is still possible after a minor consolidation and next target would be at 1.0950 area. Near term support is at the bottom of the price channel on 4-hours chart, as long as the pair is in the channel, the uptrend will continue. Key support is at 1.0760, only break below this level will indicate that the uptrend had completed at 1.0905 already, then the following downward movement could bring price back to 1.0500 zone.

eurusd 4-hours chart


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.