EURUSD: Recovers, Tests Trendline Resistance!

euro-dollar-594

The EURUSD maintains some bullish momentum today, printed support at the 1.1162 levels. This development opens the way for a run towards the key resistance 1.1235 before the next possible fall, however; a push through the 1.1235 levels will extend recovery higher towards the 1.1290 levels, further upside resistance comes at the 1.1330/1.1367 levels.

Alternatively, as long as it trades below its declining trend line and the key resistance 1.1235, expect a push back lower towards the key support 1.1162, where a cut will aim the 1.1135/1.1117 levels,further down support lies at the 1.1037 levels. Conclusion: The pair continues to face upside threats in the short term above 1.1162…

 

EURUSD-H4-Oct 02

 

 

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