On
EURUSD
, the market is going upward on 1H bars. It makes Higher Highs and Higher Lows, which is an indication of bullish trend. The price are close to previous Higher Low and the impulsive leg is expected. There is a support level at 1.1165. It was acted as resistance and then after broke out, became support. The price respected that level few times and it is more likely it will bounce again. The good entry point to go long could be fibbonaci retracement 61.8%. More conservative traders can wait the market reversal and confirmation bar and then enter. It is expected that this correction leg will be finished soon.
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Trading Books Online - www.trading-library.com
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EURUSD
, the market is going upward on 1H bars. It makes Higher Highs and Higher Lows, which is an indication of bullish trend. The price are close to previous Higher Low and the impulsive leg is expected. There is a support level at 1.1165. It was acted as resistance and then after broke out, became support. The price respected that level few times and it is more likely it will bounce again. The good entry point to go long could be fibbonaci retracement 61.8%. More conservative traders can wait the market reversal and confirmation bar and then enter. It is expected that this correction leg will be finished soon. -----------------------------------------------------------------------------------------------------------------------------------------------------
Trading Books Online - www.trading-library.com
Top 10 Forex Broker: www.best10forex.com
