26/06 – EURUSD outlook eyes on 1.129


26 June, AtoZForex.com, Milano — Technically daily EURUSD outlook with eyes still on the 1.129 level. (6:10GMT)

NEWS THAT CAN HAVE AN IMPACT:

  • U.S. MICHIGAN CONSUMER EXPECTATIONS (15:00 GMT)

As clear from the yesterday’s outlook, 1.1185 confirmed to be an important support and to project up the 1.129 bounce-off target.

Chart 1: Daily EURUSD, EURUSD outlook Chart 1: Daily EURUSD eyes on 1.129 (Click on the image to enlarge)

A bullish reaction is likely to happen.

My S/R setup is the following:

First resistance: 1.129 (Friday’s low, fibo arcs)

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Chart 2: H4 EURUSD, EURUSD outlook Chart 2: H4 EURUSD (Click on the image to enlarge)

if First resistance’s breakout then ->
-> Second resistance: 1.1355 (converging weekly trendlines)

if breakout then ->
-> Third resistance: 1.145 (converging H4 trendlines)

if breakout then ->
-> Fourth resistance: 1.1550 (converging weekly trendlines)

First support: 1.1185

if First support’s breakout then ->
-> Second support: 1.1064

if breakout then ->
-> Third support: 1.098

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