Euro fueled by positive pressures - Technical Analysis - 15-01-2016
After EUR/USD targeted the resistance of 1.0939 which we talked about yesterday, it bounced off it lower to stimulate some positive momentum that would help breach the level, leaning on the simple moving average for the last 50 hours period, along with another leaning on the upward trend line in the short tern and intraday levels as shown in the attached chart, with relative power indicators reaching oversold levels and emitting positive signals.
Therefore we expect the pair to rise, as long as the resistance of 1.0930 is breached, targeting thereafter the crucial resistance of 1.1030.
Trend
Bullish