The EUR/USD chart exhibits a bullish outlook, as the price has the potential to break above the first resistance level at 1.1095 and advance towards the second resistance level at 1.1158. In case of a pullback, the first support level at 1.1095 could provide a level of support for the price. Additionally, the second support level at 1.1034, another pullback support, may offer further support if the price drops lower.
On the resistance side, the first level of resistance at 1.1095 is a swing high resistance. If the price manages to surpass this level, it could surge towards the second resistance level at 1.1158. This level also happens to be a swing high resistance and corresponds to a 138.20% Fibonacci extension.
The material has been provided by InstaForex Company – www.instaforex.com
The EUR/USD chart exhibits a bullish outlook, as the price has the potential to break above the first resistance level at 1.1095 and advance towards the second resistance level at 1.1158. In case of a pullback, the first support level at 1.1095 could provide a level of support for the price. Additionally, the second support level at 1.1034, another pullback support, may offer further support if the price drops lower.
On the resistance side, the first level of resistance at 1.1095 is a swing high resistance. If the price manages to surpass this level, it could surge towards the second resistance level at 1.1158. This level also happens to be a swing high resistance and corresponds to a 138.20% Fibonacci extension.
The material has been provided by InstaForex Company – www.instaforex.com
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