The EURUSD had a strong bullish momentum yesterday, broke above 1.3240/50 and hit 1.3286 earlier today. We have a breakout from the range area suggests further bullish scenario as a part of the bullish phase after the break above the trend line resistance as you can see on my h4 chart below. The bias is bullish in nearest term testing 1.3375. Immediate support is seen around 1.3240/50 (former resistance). A clear break back below that area could lead price to neutral zone in nearest term but any downside pullback now is normal and as long as stays above 1.3150 my overall intraday bias remains strongly to the upside.
©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.