EURUSD upward tendency

Forex Analysis

EURUSD upward tendency, Daily analysis
April 19, 2020

Our Picks: EUR/USD

Expertise: Technical

Time Frame: H1

Last Friday price has made a false breakout to the downside of the consolidation box. As we see, the price then went down to test the long term trendline, where then a bullish reaction took place after trapping most of the sellers. This powerful move up from down point making a bullish engulfing to break through resistance (see 61.8 fibonacci retracement), along with the box area to the upside. Will be watching for a pullback towards previous resistance (see blue zone) to test as new support for then a further push higher.  Nevertheless there are some signs for bull to move price higher after double bottom, reached last weeks. 

Recommended Forex Brokers

Libertex

Review

AMarkets

Review

Freshforex

Review

Forex4you

Review
View All
LIVE - SHORT-TERM FOREX SIGNALS
Pair Action Status Entry
Price
Take
Profit
Stop
Loss
- - - - - -
Let’s trade
Let’s trade
View all
LIVE - LONG-TERM FOREX SIGNALS
Pair Action Status Entry
Price
Take
Profit
Stop
Loss
- - - - - -
Let’s trade
Let’s trade
View all