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FX.co ★ EUR/USD strong resistance broken, time to go bullish

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Forex Analysis:::2017-01-18T15:01:24

EUR/USD strong resistance broken, time to go bullish

We turn bullish on EURUSD after it has broken a previously strong support level. We are bullish above 1.0677 support (multiple swing high support, Fibonacci retracement, price action) and hope to see price make a push up to 1.0795 (major swing high resistance).

RSI (34) has made a bullish exit signalling a rise is expected.

Buy above 1.0677. Stop loss at 1.0580. Take profit at 1.0796.

EUR/USD strong resistance broken, time to go bullish

Analyst InstaForex
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