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 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)
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