Slobodan Drvenica
Windsor Brokers
EURUSD
The Euro maintains overall bullish tone, which peaked at 1.1436, after break and yesterday’s marginal close above 1.1374 breakpoint (former high of 11 Feb).
Pullback, triggered by solid US jobs data, is not expected to be deep, as strong bullish momentum persists, keeping the pair on track for strong weekly bullish close, after the month-end in long bullish candle.
Low of the day at 1.1365, which lies just above hourly Ichimoku cloud top and marks initial support, remains intact for now, guarding 1.1327 (Fibo 38.2% of 1.1151/1.1436 upleg) and 1.1308 (hourly higher base), loss of which is needed to trigger stronger correction.
The pair so far ignores overbought Slow Stochastic on daily chart, which may signal further easing on reversal.
Meantime, choppy trading near 1.1400 handle, would be likely near-term scenario, before bulls resume towards next targets and key med-term barriers at 1.1465/95 (peaks of May / Oct 2015 congestion).
Res: 1.1436; 1.1465; 1.1495; 1.1532
Sup: 1.1365; 1.1327; 1.1308; 1.1260
The Euro maintains overall bullish tone, which peaked at 1.1436, after break and yesterday’s marginal close above 1.1374 breakpoint (former high of 11 Feb).
Pullback, triggered by solid US jobs data, is not expected to be deep, as strong bullish momentum persists, keeping the pair on track for strong weekly bullish close, after the month-end in long bullish candle.
Low of the day at 1.1365, which lies just above hourly Ichimoku cloud top and marks initial support, remains intact for now, guarding 1.1327 (Fibo 38.2% of 1.1151/1.1436 upleg) and 1.1308 (hourly higher base), loss of which is needed to trigger stronger correction.
The pair so far ignores overbought Slow Stochastic on daily chart, which may signal further easing on reversal.
Meantime, choppy trading near 1.1400 handle, would be likely near-term scenario, before bulls resume towards next targets and key med-term barriers at 1.1465/95 (peaks of May / Oct 2015 congestion).
Res: 1.1436; 1.1465; 1.1495; 1.1532
Sup: 1.1365; 1.1327; 1.1308; 1.1260
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
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