Continuation of the upward trend in medium term [EURUSD]
Updated
- Up trend is moving to the historical resistance at 1.18000 area in short-term
- RSI indicator is about 80 and its a warning of overbought and reversal in short term.
- In short term after touching the resistance at 1.18000 are , there is a high possibility to we have a pullback to the broken resistance at 1.14400 area
- in mid-term next target is at 1.21800 area(
distance from the floor to the ceiling of the previous channel) - in medium-term and long-term if the price can break the resistance at 1.22000 then we can have a new target at 1.25500 area (next historical resistance in 2014 and 2018 years )
Note
if we have a pullback at 1.14400 area and price was supported, it's a good opportunity to set a buy position(sell stop under 1.14400 area)Trade closed: target reached
This analysis is valid as long as the price has not lost the support at 1.14400 area.Note
This analysis is valid as long as the price has not lost the support at 1.14400 area.
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