EUR/USD, 'jump' over the minor resistance!

eur-usd 10.11.

EUR/USD opened the week at 1.2463 by jump over the minor resistance at 1.2450, with low of the day and supported for now at 1.2453. At this moment EUR/USD manage to catch 23.6% of the fibo return from the October 15. –> November 07. fall and fight with no strenght at resistance 1.2490/1.2500. That looks like minor resistance but there is several reasons to hold this pair here. First is 23.6 fibo, second 1.2500 psychical level and third down trendline start at 1.2650 –> 1.2560 –> today. There is now important news today and I don’t see what could push euro higher true this resistance for now? Do you? If euro still manages to pass true the 1.2500 resistance, that could be the solid support for this week.

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3 comments

  • EUR/USD looking bullish today and it looks like 1.2500 could be broken?

    Liked by 1 person

    • Yes, looking bullish and slowly passing true 1.2500, but this is the level where I wouldn’t open the long position.

      Like

      • Beautiful analysis and even more better prediction of movement.

        Liked by 1 person

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