EUR/USD: Still bullish but limited, one more attempt towards 1.1965$ before big correction downside 1.1540$

M.Ali Zah All My Pips

Technical Market Outlook

Short Term

The EUR/USD has been capped at the level of 1.1905 and the pair keeps trading in a narrow zone located between the level of 1.1822 - 1.1880, but the bulls are pushing higher every time the market makes a pull-back. The next target for bulls is seen at the level of 1.1920 (swing high) and then at 1.1965. The nearest technical support is located at 1.1813, 1.1803 and 1.1789. The strong and positive momentum supports the short-term bullish outlook.

Long term

EUR/USD looking strong downside correction next 2 months towards support levels 1.1700 and 1.1540 & 1.1425.

Weekly Pivot Points

WR3 - 1.1965
WR2 - 1.1933
WR1 - 1.1892
WS1 - 1.1815
WS2 - 1.1774
WS3 - 1.1735

Author

M.Ali Zah

All My Pips

M.Ali has 10 years of experience in analysing and covering the global markets, with specialization in Forex and commodities markets.

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