EURUSD still needs to break above 1.1600

5 thg 10, 2018

The EURUSD has bounced off expected support zone of 1.1450/1.1500 levels for now. But please note that bulls stil need to push above initial resistance at 1.1600 levels to confirm a bullish reversal could be in place. Also note that EURUSD is testing its trend line resistance for now, and a clear break on the north side would instill further confidence in the bullish setup. As an alternate count, a break below 1.1463 now, could push lower further into 1.1400 zone. Looking at the structure for now, confidence could be on the higher side to go long. Conservative trading strategy would be to allow a break above 1.1600 levels and look to buy on dips.


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