EUR/USD’s Bigger Rally

Technical Reports

The pair has grown and reached 1.1355 level. The bigger rally from 1.0339 expanded. Breach of 1.1298 resistance indicates bullishness. Trading is on the upside towards 1.1615 resistance. Following pivot points include: (S1) 1.1227; (P) 1.1288 (R1) 1.1398.

Under 1.1274 minor support trading will turn up in neutral position and EUR/USD will pull back. Then, a lift restoration will occur.

The breach of 1.1298 resistance should argue a medium term trend reversal. According to bullish convergence in weekly MACD, the bottom was created at 1.0339. Another rally should head towards 55 month EMA. Firm breach in that place will align 38.2% retracement of 1.6039 to 1.0339 at 1.2516.