Forex Forum to Share, Discuss, Communicate and Trade Forex

EURUSD: Vulnerable, Loses Upside Momentum

Discuss Technical Analysis for various currency pairs and share your views. You may also like to check our Forex technical analysis and Forex forecast sections.
Image

EURUSD: Vulnerable, Loses Upside Momentum

Postby FXTechstrategy » Sun Jan 21, 2018 3:50 pm

EURUSD: The pair backed off higher prices to close on a rejection candle the past week. On the upside, resistance comes in at 1.2250 level with a cut through here opening the door for more upside towards the 1.2300 level. Further up, resistance lies at the 1.2350 level where a break will expose the 1.2400 level. Conversely, support lies at the 1.2200 level where a violation will aim at the 1.2150 level. A break of here will aim at the 1.2100 level. Below here will open the door for more weakness towards the 1.2050. Its daily RSI is bullish and pointing higher. All in all, EURUSD faces further upside move on bullish offensive

Image
FXTechstrategy
 
Posts: 297
Joined: Sat May 14, 2016 4:52 pm

Return to 2+1 = 3 - Technical Analysis Discussions

 

Who is online on Forum

Registered users: Alexa [Bot], Andrea ForexMart, Baidu [Spider], Bing [Bot], FXTM Official, Google [Bot], Majestic-12 [Bot], MariaKriszelle