EURUSD: Bullish, Rallies Further

Discussion in 'Stock picks and trading strategies' started by FXTechstrategy, May 16, 2017.

  1. EURUSD: With the pair retaining its short term uptrend by rallying further on Tuesday, more strength is envisaged in the days ahead. Resistance comes in at 1.1100 level with a cut through here opening the door for more upside towards the 1.1150 level. Further up, resistance lies at the 1.1200 level where a break will expose the 1.1250 level. Its daily RSI is bullish and pointing higher suggesting more strength. Conversely, support lies at the 1.1000 level where a violation will aim at the 1.0950 level. A break of here will aim at the 1.0900 level. All in all, EURUSD faces further bull pressure.

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