Main Quotes Calendar Forum
flag

FX.co ★ Short-term bullish signs in EURUSD.

parent
Forex Analysis:::2021-12-08T13:23:56

Short-term bullish signs in EURUSD.

Eurusd made a low at 1.1228 and is now above 1.13. Price has broken the short-term resistance levels we mentioned in our last Ichimoku cloud analysis and is now ready to make a higher high. The short-term resistance trend line is broken and price has formed a higher low from which we expect price to move higher towards 1.1440.

Short-term bullish signs in EURUSD.

Red line - short-term resistance

Blue lines - expected size of upward move to follow

EURUSD is breaking above the red resistance trend line. This is a bullish sign. Next resistance is recent high at 1.1383. Breaking above it, will confirm that we are heading towards our bullish target of 1.1440 at least. As we mentioned many times the last couple of weeks, EURUSD at 1.12-1.13 area is expected to form a major low and start a strong upward move. We continue to believe this is not the time to be bearish EURUSD.

Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...