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EUR/USD Bullish, Targeting The 1.5140 Level.

Euro/Dollar has decisively broken and held above the 1.4576 and 1.4681 levels to close strongly higher the past week. With this occurring, risk of further strength is now seen towards the 1.4902 level where a violation will put the pair in a position to strengthen further towards the1.5140 level, its 2009 high.

Guest post by www.fxtechstrategy.com

Its weekly RSI remains bullish and pointing higher suggesting further gains.   Alternatively, support starts at the 1.4681 level followed by the 1.4576 level. A combination of the two levels should provide support and turn the pair back up in the direction of its primary trend.

Another support lies at the 1.4329 level, its channel support.  

 

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.