EURUSD → Bulls can show good growth

2 Jan

EURUSD is testing support in the upside plane. The support at 1.1017 plays a key role



On D1 we see the formation of a retest of 1.1000 level after its break. The market may test this area not only by touching it, but also by false breakout before further growth.
The DXY is likely to continue its weakening on the back of weak fundamental background, which will affect the forex market accordingly.
On H4 and H1 it is worth paying attention to the support area: 1.100 level and upward support in order to make further decisions.

Resistance levels: 1.108, 1.1142
Support levels: 1.107, 1.100, 1.0930

The price may test not only the nearest support, but also the one below. Everything depends on the price reaction to the mentioned levels. But at the moment we expect growth from 1.1017.

Regards R. Linda!