EURUSD Outlook
EURUSD Yesterday’s chart analysis
The price has made a new high. A $1.16000 level was reached.
Yesterday market behaviour shows us that we had a small pullback to the area near $1.15000 and from there we had a strong bullish candle. That bullish move drove the price to $1.16000 level where the price found a resistance.
This scenario with the pullback I have announced in G-Trader email news.
The bullish candle move was during the London trading session when the European traders were active.
After reaching new highs the price pulled back to the first support level at $1.15688.
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EURUSD Chart Forecast
For now the price has stalled. We can see indecision candles that have formed on the small support level.
This candle formation will stay until the London trading session opens and traders start trading. Strong resistance level at $1.16178 was not reached yesterday, but we are in the bullish market so we can expect a move towards that level.
Where the breakout from the indecision candle happens that is the direction where the price will move. I am more for a bullish move until the price reaches $1.16178.
Entry EURUSD: If you want to see how to play this scenario join G-Trader
If you want to know how much pips EURUSD moves each day in a week or how much it moves on London or New York trading session, you should check this article: EUR/USD Pip Range Analysis
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The market is not easily predictable and we need to prepare our self for bullish or bearish scenario. Risk management is crucial in Forex trading so play safe and set stop loss.
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