EURUSD hovering at Resistant zone. Already reached the higher high trendline so what is next?
Actually, 1.09811 (High of Dec 03,2015) is serving as resistant for now. A broke above this price will push the EURUSD to the next resistant 1.11231 (low of Aug 31,2016).
But before that we have to count the upcoming press conference by ECB at next Tomorrow. Draghi can change his tone as Macron won the first round and has higher probability to win the second round too as he got endorsement from other candidate (who did not pass the first round).
On the other hand a continue hawkish tone from Draghi could push EURUSD higher and can stay bullish for medium term.
Happy trading. Please check the chart below.
(Note: My technical charts are from Tickmill, please adjust your chart, I have put a violet round box at support/resistant area)
freeimagehosting
Actually, 1.09811 (High of Dec 03,2015) is serving as resistant for now. A broke above this price will push the EURUSD to the next resistant 1.11231 (low of Aug 31,2016).
But before that we have to count the upcoming press conference by ECB at next Tomorrow. Draghi can change his tone as Macron won the first round and has higher probability to win the second round too as he got endorsement from other candidate (who did not pass the first round).
On the other hand a continue hawkish tone from Draghi could push EURUSD higher and can stay bullish for medium term.
Happy trading. Please check the chart below.
(Note: My technical charts are from Tickmill, please adjust your chart, I have put a violet round box at support/resistant area)
freeimagehosting
