Attached is the 1H chart of EURUSD. This pair continues to show amazing strength. It seems to be unmindful of bearish pin bars in 2day or 4H and just simply wants to keep going up.
I guess the strength of the USD has been only short lived and we may seen another leg up soon on this pair. The 1H chart shows some small support at 1.3520 for this pair.
On the downside the supports are at 1.3611 and 1.3575. A break of these two should lead to the very strong support at around 1.3550 and i do not expect price to fall below this strong support.
On the upside, the resistance are at 1.3650 and then very closely at 1.3672 which should prove to be a very strong resistance. The next major resistance is around the round figure at 1.37. We need a good break of this for any more upside.
For today, i expect more ranging . I would try to trade the range with bias to the upside and if there is a break in either direction (below 1.3550 or 1.37), then i would tend to take the trade in that direction for a big ride.
No comments:
Post a Comment