Black lines- trading range
EURUSD is trading around 1.0235, making new higher highs than yesterday. However price remains inside the trading range its been in since mid July. The 1.0285 rejection high remains intact and the lower end of the range at 1.01-1.0140 also remains respected. Today the candlestick is moving above the kijun-sen (yellow line indicator) and the tenkan-sen (red line indicator). This is positive for bulls. Price remains below the Kumo (cloud) in the Daily chart. Price has potential to push towards 1.04-1.05 where we find the cloud resistance. This is more likely to happen if bulls break above the trading range and above the 1.0285 high. Support is at 1.02. Failure to hold above it, will open the way towards 1.01.
