Attached is the 1H chart for EURUSD. Yesterday was a nice clean day for this pair where it moved down as a form of small retrace and then it kept ranging for most of the day till the release of US news. After the news release, EU then blasted off through some of the major resistances at 1.4060 and then 1.4100 and 1.4160.
This was a nice upmove but last few hours, we have seen that this pair has slowly started settling down and has also moved down slightly. It has now gone down and hit the support around 1.4110 and has now started moving up slowly.
For today, i expect this pair to move up further but 1.4160 and then 1.4230 would be crucial. These 2 huge resistances need to be broken cleanly for the upmove to continue else we would see this pair moving down slowly.
On the downside, the supports are at around 1.4110, 1.4060 and then at 1.40. On the upside, the resistances are at 1.4160, 1.42 and then 1.4235.
There is a lot of news that is scheduled to be released today, both in Euro and USD, and so this should be an important day, a day which will hopefully give us clues on future direction. I have a gut feel that this is going to move up today.
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