EURUSD: Bullish, Remains On The Offensive
EURUSD: With the pair holding on to its upside pressure, more strength is expected in the new week. Resistance comes in at 1.1700 level with a cut through here opening the door for more upside towards the 1.1750 level. Further up, resistance lies at the 1.1800 level where a break will expose the 1.1850 level. Its daily RSI is bullish and pointing higher suggesting further strength. Conversely, support lies at the 1.1600 level where a violation will aim at the 1.1550 level. A break of here will aim at the 1.1500 level. All in all, EURUSD faces further upside pressure.
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About the author
Mohammed Isah is a Technical Strategist and head of research at FXTechstrategy.com, a technical research website. He has been trading and analyzing the foreign exchange market for the past 7 years.
He formerly traded stocks before crossing over to the forex market where he worked for FXInstructor LLC as a technical analyst and head of research before Joining FXTechstrategy.com. Mohammed has written extensively on the forex market and technical analysis and his articles have been featured in The Technical Analyst Magazine, The Forex Journal Magazine, Thestreet.com, MoneyShow, The Technical analysis of Stocks & Commodities Magazine, Businessinsider and FXstreet.com
At FXTechstrategy.com he writes daily and weekly technical commentaries on currencies and commodities which are offered to its clients. He provides full coverage of the forex market with specific daily focus on 7 currencies (EURUSD, GBPUSD, USDJPY, EURGBP, EURJPY, AUDUSD and USDCAD) and the Dollar Index utilizing various technical tools and strategies. He also covers the commodities market twice in a week focusing on in-depth technical developments in GOLD, CRUDE OIL, SILVER, CORN, WHEAT and CRB Index.
Mohammed can be reached via email at email@example.com.