EUR/USD surpasses the 1.1325 level, next Resistance 1.1385 (bullish)
Friday’s 4-hour chart is showing that the EUR/USD pair held above the 50 SMA. Yohay Elam, an analyst sees bullish signs in the world’s most popular currency pair and expects further gains.
Key quotes
“Momentum on the 4-hour chart remains positive and EUR/USD bounced off the 50 Simple Moving Average – both bullish signs. While the currency pair dropped out of the uptrend channel, it is fighting to recapture it. Topping that line could trigger further gains.”
“Euro/dollar is battling 1.1325 at the time of writing, a line that provided support on Thursday. The next cap is 1.1385, which was a temporary peak last week. Wednesday’s peak of 1.1425 is the next level to watch.”
“Support awaits at 1.1275, the daily low, followed by 1.1240, a swing low from earlier in the week.”
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