FX.co - EURUSD challenges important short-term resistance at 1.1030 and could see 1.1130 soon.

2019-10-10T13:21:24

Relevance until2019-10-11

EURUSD challenges important short-term resistance at 1.1030 and could see 1.1130 soon.

EURUSD has moved above 1.10 and is challenging as expected the important 1.1030 resistance level. As long as price is above 1.10 we expect price to continue higher towards 1.11-1.1130.

EURUSD challenges important short-term resistance at 1.1030 and could see 1.1130 soon.

Black lines- bullish wedge pattern

Red line - bullish divergence

EURUSD is bouncing off the lower wedge boundary. The upper wedge boundary and possible target is at 1.1130. Short-term trend is bullish as long as price is above 1.0965 but longer-term trend remains bearish as long as price is inside the wedge.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

#Technical analysis #EUR #USD #EURUSD

Analytical expert

Alexandros Yfantis

InstaFintech Group @ 2007-2024

FX.co ★ EURUSD challenges important short-term resistance at 1.1030 and could see 1.1130 soon.

Forex Analysis

EURUSD challenges important short-term resistance at 1.1030 and could see 1.1130 soon.