Denis Joeli Fatiaki
Independent Analyst
EUR/USD/: German Trade Balance data beat expectation; Euro bounced back at 1.12239
What is going on now withEUR/USD?
EUR/USD: The Euro had a boost against the USD following the trade balance data announcement. The pair bounced at around1.2239 support after a small retracement and broke through the resistance trend line to the upside at 1.2289.
My thoughts on what may happen
EUR/USD: The Euro is now attempting to hold to its gains above 1.2330 support in the 60 minutes price chart in order to continue to its next target at 1.12385. The pair needs to remain above 1.2330 to continue to the upside.
Support: 1.12330, 1.12289,and 1.12239
Resistance: 1.12385, 1.12444, and 1.12477
We explain, help and guide you to possibly make the right decision on when to enter, apply stop loss to protect your capital, take profit, and exit your position.
The short-term view of the EUR/USD price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points.
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