Analysis For:

EUR/USD

The EUR/USD saw momentum last week tapping  1.1387 and hit 1.1453 early Monday.

As you can see the daily , price moved above the daily 200-Day indicating the continuation of the Bullish especially if price able to make a clear break above the daily 200-Day .

The bias is Bullish in near term testing 1.1500. A clear break and a close above that mark may trigger more Bullish pressure to test 1.1600 next.

1st support is seen at 1.1345. A clear break below that mark could lead price to Neutral near term at 1.1300.

Overall, remain Bullish and any Southside should be seen as a buying opportunity.

Monday’s range  seen between 1.1345 – 1.1500.

Outlook: Bullish (Bulls in Charge)

After finding a trading system that works for you, the more cryptic and esoteric fields of study can then be incorporated into your technical and trading toolbox.The bottom line when utilizing any type of analytical method, technical or otherwise, is to hold to the basics, which are methodologies with a proven track record over a long period.

Technical analysis is a method of forecasting price movements by looking at purely market-generated data. Price data from a particular market is most commonly the type of information analyzed by a technical trader

Have a terrific week.

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