Attached is the 1H chart for EURUSD. The bull train seems to be going on and on and there seems to be no stopping it. I dont see an end to it today as well and i expect the bull train to continue today.
As you can see from the chart, all up bars have had high volume which shows a clear demand for higher prices. The weekend has done nothing for the bullish trend and we seem to be continuing today.
For today, i expect the price to make a small retracement towards the low 1.41s and then expect the price to keep going up higher and higher. The bearish trend in UJ has only further helped the bullish trend in EU.
On the downside, good support exists at 1.41 and then at 1.4040 though i do not expect the price to make it there. If it does reach there, that would be a great place to go long.
On the upper side, there is some strong resistance at 1.4160 and a clear break of that should carry the price to 1.43.
No comments:
Post a Comment