EURUSD traded higher as we expected yesterday. The price tested the level of 1.1220. Strong bullish momentum is present and we still expect further upside.
Orange rectangle – 20EMA acting like support
Blue horizontal line – Resistance level
EURUSD did exactly how we expected yesterday. After the breakout of supply trendline (yellow diagonal) in the background and after the breakout of the bullish flag yesterday, the odds were on bullish movement. MACD oscillator is showing that increase in the upside momentum and that is good sign for the further upward continuation. Both our upward targets from yesterday were met at 1.1191 and 1.1220 but the third target is added and it is set at the price of 1.1260. Support levels are seen at the price of 1.1203-1.1192. Watch for buying opportunities on the dips with target at 1.1260.
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