The EURUSD continued its bullish momentum this week, topped at 1.4881 and closed at 1.4803. Overall the bullish technical bias remains strong at least targeting 1.5000.  On h4 chart below we can see price also still maintain its current bullish characteristic where the broken resistances (1.4518, 1.4647, 1.4790) become a good supports. 1.4790 is the key intraday support at this phase and as long as price stays above that area my intraday bias remains more to the upside. A clear break below that area could trigger further bearish pressure testing 1.4647 but as long as price moves inside the bullish channel the major bullish outlook should remain intact.

Have a great weekend and see you guys next week.

©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.

.