Last week started with the price putting pressure on the ve,ry important support at 1.3190 – 1.32 and on the uptrend line (blue), which had been helping buyers since the end of May. Buyers managed to defend it which was a clear signal that they are in good shape and should win this week. For the first four days they were able to draw green candlesticks. On Friday, bears performed a counter attack but without any further serious consequences.
The price closed slightly below the uptrend line, but above a very important support at 1.3310 which played an important role in the second half of February.
The closest mid-term resistance is 1.3510, which played an important role in the first half of February. Technically, more chances are with the long side of the market and players that aim north. The bearish scenario will be worth consideration once they manage to break all the supports marked in green.
The new week started neutrally with a minor downswing aiming at the 1.3310 support.
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EUR/USD With New Highs
Published 06/17/2013, 08:55 AM
Updated 01/31/2022, 02:45 AM
EUR/USD With New Highs
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