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EURUSD Bullish, Risk Points Higher

EURUSD faces further upside pressure as we look for more gain. Resistance comes in at the 1.1850 with a break of that area turning risk towards the 1.1900 level. A move above here will target the 1.1950 level. Further up, resistance stands at the 1.2000. On the down, support comes in at 1.1700 level with a violation opening the door for a run at the 1.1700 level. Further down, support is seen at the 1.1650 level. A cut through that level will clear the way for a move towards the 1.1600 level. All in all, EURUSD looks for more upside pressure in the new week.

Mohammed Isah is a co-founder, technical strategist and head of research at FXAssure.com. He has been trading and analyzing the foreign exchange market for the past 7 years. He formerly traded stocks before crossing over to the forex market where he worked for FXInstructor LLC as a technical analyst and head of research before Joining FXassure.com.

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