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FX: EURUSD Short Term Bullish

Interval: H1


Getting back to an older analysis of the EURUSD  we will observe that the price got really close to a very important area formed from a 50% retrace and 1.3 support level.

Looking back on a lower time frame, H1 , for a fine tuning, it can be seen a Falling Wedge, which means that the down trend has lost its power on the latest falls. The break over the upper line of the pattern has confirmed the formation and now we might expect the price to hit 1.3165 for a second time. This level is at the trend line, but it is also a key resistance. Over it might trigger new up moves that will get the Euro back to another key resistance at 1.3325.

Combining the higher time frame with the lower one can give very accurate signals, but we should wait for next actions of the market. The down trend will be invalidated only if the price will close over the trend zone. We will keep you updated.

FX: EURUSD Short Term Bullish by