As I had expected, the EURUSD continued it’s bullish momentum yesterday, topped at 1.5019 and closed at 1.4995. The bias should remains bullish in nearest term re-testing October 26 high, 1.5062. I will be watching any reaction around this area since technically we could have a double top formation if price reject to move above that area, as you can see in my daily chart below. However, a breakout above that area should continue the upside scenario targeting 1.5150 area as a bearish correction/reversal scenario failure could potentially produce the other scenario: bullish continuation. Immediate support is seen at 1.4950 followed by 1.4850 area.
Join the Discussion