Orlando Gutierrez
Learn 2 Trade
Key Support: 1.1910
Key Resistance: 1.1940 - 1.1970 - 1.1990
Mid Term View
The EURUSD has been falling for the past 3 weeks, about 3.36% (410 pips), but last week we saw a bottom at the test of the 1.1820 level.
Now that price is trading above the 1.1910 (which confluences with the weekly pivot), a continuation pattern has emerged and the breakout could produce enough momentum to test the previous highs.
1H chart analysis
The 1.1910 level is super strong resistance right now and we want to be long at the break of the immediate structure.
We are seeing some mild hidden bullish divergence here and the DXY being capped by the 92.00 level and looking bearish below is what we are looking for for a long here.
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