The EURUSD was indecisive this week. Price attempted to push lower on Tuesday and Thursday but found a strong support around 1.3670/55 before closed higher at 1.3894 on Friday. On my h4 chart below we can see price is moving in a range area between 1.3913 – 1.3670/55. However the overall technical bias remains bullish since bounced strongly to the upside from 1.3145 earlier this month. A clear break above 1.3913 could trigger further bullish pressure testing key/major/psychological resistance 1.4000. A clear break and daily close above 1.4000 could trigger further bullish scenario testing 1.4150, 1.4280 even 1.4530. On the downside, only a clear break and daily close below 1.3670/55 strong support area could stop the current bullish outlook, testing 1.3500.
Have a great weekend and see you guys next week.
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