EUR/USD Breakout Towards 1.1950 on a Continuation Above 1.1890

1 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear traders,

The EUR/USD has retracted during the night after hitting the 1.1930 zone. We should see a further move up.

1.1890 zone is a breakout-retest area. If the impulse is positive along with enough momentum to the upside, we should see 1.1.1930 and 1.1950. We can also notice that the retracement trend line has been broken and the supportive trend line should hold for bulls. However, bulls should not allow the price to drop below 1.1850 for this scenario to be valid.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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