Please click on image to ENLARGE
EUR_USDThe EURUSD was indecisive on Friday. Price attempted to push lower, bottomed at 1.2794 but closed higher at 1.2914. On h4 chart below we can see that price is moving inside a triangle formation after failed to consistently move above 1.3000 and found support around 1.2735 indicating consolidation. Breakout above the triangle could trigger further upside pressure re-testing 1.3000 before targeting 1.3120. On the other hand, breakdown below the triangle could trigger further bearish pressure testing 1.2735 region. Overall The euro is still in bullish phase.
GBP_USD The GBPUSD continue its bullish momentum on Friday, topped at 1.5448 and closed at 1.5420. The bias is bullish in nearest term especially if price able to move consistently above 1.5470 area targeting 1.5573 (February 23 high) before testing 1.5685 region (February 18 high). Immediate support at 1.5400 – 1.5380. Break below that area could lead us into no trading zone in nearest term testing 1.5280/50 support area.
No comments:
Post a Comment