The breakout of EUR/USD through the 1.1349 price line is a breach of an important psychological price that is has tested numerous in the past. If this breakout persists, EUR/USD could test 1.1408 within the next 2 days. One should always be cautious before placing a trade, wait for confirmation of the breakout.
Related Posts
GBPCHF seems to be on its way to resistance – a possible opportunity?
GBPCHF is about to retest a key horizontal resistance level near 1.0843. It has tested this level 4…
Because USDJPY formed a Channel Down pattern, we expect it to touch the resistance line. If it breaks through resistance it may move much higher
USDJPY is heading towards the resistance line of a Channel Down and could reach this point within the…
A Channel Up has formed, EURUSD is approaching resistance. Can we expect a breakout and the start of a new trend or a reversal?
EURUSD is trapped in a Channel Up formation, implying that a breakout is Imminent. This is a great…