On Wednesday EURUSD broke resistance at 1.1380. However, the price has trouble with this movement continuation. Optimistic scenario assumes that EURUSD will fall temporarily below 1.1380 and next it will dynamic return to upward movement. Even if the price reacts different, in mid-term upward movement will be continued.
At the 4-hour chart we can see successful rebound from lower limit of bullish regression channel which was at the end of May. Nearest resistances are located at 1.1440, 1.1490. The most important is 1.1490 level, it has stopping every bulls’ attacks since January 2015. If EURUSD breaks this resistance, there will be an open road to 1.1620 or even to 1.1900 level.
YOU CAN START TRADING ON FOREX MARKET USING FREE XM BROKER ACCOUNT.
Time-frame H1
Time-frame H4
