EURUSD – Euro/dollar reverses and pushes higher from key support
The EURUSD is clearly oscillating within a defined trading range between 1.2520 resistance and the key support zone down between 1.2200 – 1.2160. We can see eurusd in the chart below, price bounced from that support zone last Thursday, continuing gains into Friday’s close. We see this as strong evidence that eurusd buyers are still very active and looking to buy at support levels. There’s plenty of room for price to move higher before key resistance comes back in up near 1.2520 area, so we are again looking to buy eurusd this week. Eurusd Traders can watch for price action signals to get long on weakness / pullbacks at 1.2200 – 1.2160 or above; watch for signals on the 1-hour, 4-hour or daily chart time frame
The EURUSD is clearly oscillating within a defined trading range between 1.2520 resistance and the key support zone down between 1.2200 – 1.2160. We can see eurusd in the chart below, price bounced from that support zone last Thursday, continuing gains into Friday’s close. We see this as strong evidence that eurusd buyers are still very active and looking to buy at support levels. There’s plenty of room for price to move higher before key resistance comes back in up near 1.2520 area, so we are again looking to buy eurusd this week. Eurusd Traders can watch for price action signals to get long on weakness / pullbacks at 1.2200 – 1.2160 or above; watch for signals on the 1-hour, 4-hour or daily chart time frame
