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FX.co ★ EURUSD back tests break out area.

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Forex Analysis:::2021-07-28T15:28:19

EURUSD back tests break out area.

EURUSD is back testing today the break out area of the resistance trend line. Holding above 1.18 is key for the short-term reversal signal. Holding above 1.18 is key for bulls. Breaking above 1.1842 will be an added sign of strength on behalf of the EUR bulls.

EURUSD back tests break out area.

Red line -resistance

Blue line - Bullish divergence

Price has started making higher highs and higher lows. Price has broken the red resistance trend line and is now back testing it. A bounce off the red trend line will be a bullish sign. It is important for bulls to hold above 1.18. Short-term resistance is at 1.1842 and next at 1.1942. I expect the second level to be reached over the coming sessions.

Analyst InstaForex
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