EUR/USD Bullish Trend Continues If the Price Breaks 1.1323

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

The EUR/USD has formed a small ascending scallop pattern with 1.1240-50 as established POC zone. Uptrend continuation is possible if historical resistance breaks.

In Forex trading, price tends to repeat itself. That is one of the biggest merits in Forex trading. For that reason, blue lines on the chart represent historical levels of s/r. On the EUR/USD chart we can see that 1.1323 is the daily resistance and the break of it will target 1.1341 with a possible extension to 1.1372. Uptrend is strong and it is obvious on the H1 that buying the dips continues with the intraday trading.

The analysis has been done with the CAMMACD.MTF template.
For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

Leave a Reply

avatar

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of