FX.co ★ TST as the Foundation for Medium-term Trading

EURUSD So, yesterday we finally broke above the Key Trading Level (KTL), albeit towards the end of the day. The price attempted to do so in the first half and then in the second half, pushing it all the way to the upper boundary again and closing the day at the maximum. And this morning, it started moving upwards again. However, today the Opening Range (OR) has risen, and the mandatory zone below the balance has appeared. Now, in order to mark territory within it, we need to pass through the balance and see if we can accomplish that. Also, the KTL has shifted downwards, indicating something as well. Most likely, suggesting that it is a strong support level and it may not be possible to move below it. There are news releases today - during the European session, there is a significant block of news about the Eurozone with seemingly positive forecasts. And during the American session, there is also an important news release regarding unemployment with not-so-great forecasts. In general, all of this could help the majors move higher.