Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
EUR/USD close to reach the 1.2476 milestone
2019-11-11 • Updated
The pair is following a bullish structure since March 1st lows and it’s on the way to duplicate a cycle towards the 100% Fibonacci extension at 1.2476. Around that area, we’re expecting a pullback to take place to test the support zone of 1.2354. Such level could be pierced in order to allow more declines to touch the 200 SMA at H1 chart. To the upside, if EUR/USD manages to break above 1.2476, it can go towards the 1.2525 level.
RSI indicator remains slightly in the negative territory.
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Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...