Outlook on EURUSD: Bullish play seen
Hi everyone! our call on XAUUSD last week played out nicely, for this week, we are seeing a bullish outlook for EURUSD. Prices are currently testing the weekly support zone in line with the ascending trend line and 78.6% retracement where we could see further upside here. On the H4 time frame, prices broke above the short term descending trend line where a pullback to in prices to the support zone at 1.18200 presents a buy opportunity. Keeping in mind the weekly time frame echoes a more bullish bias, with prices holding well above the ascending trend line, a break above the H4 resistance zone at 1.19200 could see prices push higher to the next resistance zone at 1.19800.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.