Home EURUSD: Recovery Tone Intact, Targets The 1.1372 Level
Forex Bits

EURUSD: Recovery Tone Intact, Targets The 1.1372 Level

EURUSD: Having EUR halted its two-day corrective weakness to close higher on a rejection candle on Wednesday, further strength cannot be ruled out. On the upside, resistance comes in at 1.1350 level with a cut through here opening the door for more upside pressure towards the 1.1409 level.

Further up, resistance is seen at the 1.1450 level where a break will expose the 1.1500 level. On the other hand, Initial support stands at the 1.1250 level where a break will create scope for more weakness towards the 1.1200 level. A break of here will aim at the 1.1150 level with a turn below that level targeting the 1.1100 level. All in all, the pair looks to follow through higher on the back of its Wednesday recovery strength.

EURUSD

In our latest podcast, we  prepare you for the Fed decision from all directions

Follow us on Stitcher.

FX Tech Strategy

FX Tech Strategy

FX Tech Strategy provides simple forex research for Intra-day, swing and position traders. For over 6 years, FXTechstrategy has been committed to providing forex traders including intra-day, swing and position traders exceptional forex research with technical analysis expertise that makes trading decisions easy and painless. FXTchstrategy won Best Technical Analysis (forex best awards) by fxstreet in 2011 and was finalists, Star Awards by traderplanet in 2011 & 2012.