Black lines- support trend lines
Green line -resistance (broken)
EURUSD is trading around 1.0680 after breaking last week above the short-term resistance 1.0660. Price back tested the break out level and has now started making higher highs and higher lows in the 4 hour chart. Short-term support is at 1.0660 where previously resistance was. Price has the potential to continue higher as long as we stay above 1.0660-1.0650. Key support remains at 1.0570. A break below 1.0650 would be a bearish sign, but the confirmation will come with a break below 1.0570. Until then bulls are in control.
Relevance up to 15:00 2023-01-03 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
