Currency analyst

EUR/USD: bulls don't give up

On the daily chart EUR/USD bulls made another attempt to conquer diagonal resistance at the upper border of the trend channel. Once again it was a failure, although the persistance of the buers may eventually bring fruits. As a result, risks are that the rally will continue to 1.1259 and 1.1343.

On H1 EUR/USD bears managed to repel an attack of their competitors. As a result, the pair formed resistance at 1.1209. The pair fell to 38.2% Fibo of the last descending wave. Here, as well as at 1.1134 (lower border of the uptrend chanbel + 50% level) the bulls are ready to seize the initiative.


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