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4/5/2016 3:34:14 AM

EURUSD gathers positive momentum - Technical Analysis - 05-04-2016



EURUSD didn't move a lot in its recent intraday levels trading, falling at the start of the session to an intraday low at 1.1357, before bouncing off it higher and closing with no change, as the pair tries to gather positive momentum to help it rise again with the dominance of the main upward trend in the short term, while trading within an ascending price channel as shown in the attached chart, with ongoing positive pressure from the SMA50.

Therefore we reaffirm our positive outlook for the pair, with a very important caveat, the support of 1.1340 has to hold its ground, targeting thereafter the resistance of 1.1465.


Target
Risk


Support
Resistance


Trend Bullish

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