EUR/USD: the bulls are looking a little better positioned around 1.1100 [Video]

Richard Perry Independent Analyst

EUR/USD

A decently solid positive candle has pulled EUR/USD up to around the $1.1100 resistance once more. After a few days of indecision, the bulls are looking a little better positioned around here now as the dollar seems to be under mounting pressure. The payrolls report today will be the main factor for today’s session and is likely to lend direction on a near term basis, but the trade dispute remains key. On a technical basis, a close decisively clear above $1.1100 opens what is still a medium term consolidation range high of $1.1180. The improved RSI moving into the 60s would also confirm a growing positive outlook within this range. The hourly chart is taking on a more positive configuration on momentum now, with weakness on the hourly RSI into 40/50 in the past week seen as a chance to buy. Initial support is at $1.1065.

Author

Richard Perry

Independent Analyst

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