EURUSD Weekly Summary: Bullish target and support level

By @ibtimes on

The EURUSD continued its strong bullish momentum this week after made a clear break above 1.4281 key resistance area and closed at 1.4483 on Friday. On my h4 chart below we can see price still moving smoothly inside the bullish channel. The white trend line, is actually the upper line of the bearish channel on weekly chart and already broken to the upside, suggests potential failure of the bearish weekly outlook at least testing December 2008 high at 1.4718 next week. On the downside, bearish correction warning and bullish exhaustion indicated by a CCI divergence which could test 1.4350 support area.

Have a great weekend and see you guys next week.

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