EURUSD Outlook: bulls eye 1.12 zone after break of key barriers

Slobodan Drvenica Windsor Brokers

EUR/USD

The Euro maintains firm tone on Thursday and keeps focus at the upside after strong bullish signal was generated on Wednesday's surge and close above key 1.1140 resistance zone. Rising bullish momentum on daily chart and MA's in bullish setup support the advance, with long-tailed bullish candle of last Friday also underpinning the action. Fresh bulls retest cracked barrier at 1.1162 (50% of 1.1239/1.1084) and eye 1.1180/1.1200 (Fibo 61.8% / 6 Jan high/Fibo 76.4%). Broken 1.1140 pivot now offers strong support which is expected to hold and keep bulls in play.

Res: 1.1162; 1.1180; 1.1205; 1.1224
Sup: 1.1140; 1.1118; 1.1104; 1.1084

Interested in EUR/USD technicals? Check out the key levels

1. R3 1.1218
2. R2 1.1191
3. R1 1.1172
PP 1.1145
1. S1 1.1126
2. S2 1.1099
3. S3 1.108

Author

Slobodan Drvenica

Windsor Brokers

Industry veteran with over 22 years’ experience, Slobodan Drvenica joined Windsor Brokers in 1995 when he was an active trader for more than 10 years, managing the trading desk and own account departments.

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