The EURUSD had a significant bullish momentum yesterday, broke above 1.4647 and hit 1.4709 earlier today I Asian session. This strong breakout after sideways movement since Easter could continue the major bullish scenario targeting 1.4800 even 1.5000 region. Immediate support at 1.4647. A clear break below that area would lead us to neutral zone in nearest term testing 1.4600 – 1.4575 support area but I think overall the pressure remains strongly to the upside.
©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.