EURUSD is trading at new short-term highs around 1.1170. Short-term trend remains bullish as price continues making higher highs and higher lows. The bearish RSI divergence we mentioned yesterday was cancelled as the RSI formed a new higher high. EURUSD is approaching the 100% extension target of the first upward move. This target is at 1.1215. Key short-term support is found at recent low of 1.0834. Bulls do not want to see price break below this level. So far there is no sign of a reversal or trend change.
The material has been provided by InstaForex Company – www.instaforex.com
Red lines- expected path
Green lines- Fibonacci extension targets
EURUSD is trading at new short-term highs around 1.1170. Short-term trend remains bullish as price continues making higher highs and higher lows. The bearish RSI divergence we mentioned yesterday was cancelled as the RSI formed a new higher high. EURUSD is approaching the 100% extension target of the first upward move. This target is at 1.1215. Key short-term support is found at recent low of 1.0834. Bulls do not want to see price break below this level. So far there is no sign of a reversal or trend change.
The material has been provided by InstaForex Company – www.instaforex.com
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