HomeContributorsTechnical AnalysisEURUSD – Strong Bullish Sentiment To Persist Above Daily Cloud

EURUSD – Strong Bullish Sentiment To Persist Above Daily Cloud

The Euro is holding steady above 1.0700 handle in early Thursday, following strong rally after Fed hiked rates but delivered dovish comments about future steps. Firm break and close above key barriers at 1.0653 (100 SMA / daily cloud top) and 1.0700 (Fibo 61.8% pivot) is seen as strong bullish signal for further advance. The pair hit one month high at 1.0745 so far, just ahead of next target at 1.0748 (Fibo 76.4%). Corrective easing could be expected on overbought conditions of 4-hour studies, with initial support at 1.0700 and more significant daily cloud top support (currently at 1.0680). Extended dips should not exceed 1.0650 (100 SMA) in order to keep bullish structure intact. Break above 1.0748 would expose 1.0800 and key short-term barrier at 1.0827 (2017 high, posted on 02 Feb).

Res: 1.0748, 1.0800, 1.0827, 1.0872
Sup: 1.0700, 1.0680, 1.0650, 1.0634

Windsor Brokers Ltd
Windsor Brokers Ltdhttp://www.windsorbrokers.com/
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