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EURUSD Eyes Further Bull Pressure Pressure

EURUSD faces risk of further upside pressure as it halted its bear pressure on Friday opening the door for more gain. On the down, support comes in at 1.2000 level with a violation opening the door for a run at the 1.1950 level. Further down, support is seen at the 1.1900 level. A cut through that level will clear the way for a move towards the 1.1850 level. On the upside, resistance stands in at the 1.2100 with a break of that area turning risk towards the 1.2150 level. A move above here will target the 1.2200 level. Further up, resistance stands at the 1.2250. 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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