TECHNICAL DAILY OUTLOOK – EYES ON 119.850.
U.S. GROSS DOMESTIC PRODUCT (12:30 GMT) CAN IMPACT.
After yesterday’s important (but failed) bearish test on 118.50 support, current Weekly bar will try to close near the weekly open price (119.850) in confirmation of an overall bullish weekly setup.
Of course, there are still 40 chances over 100 to see price testing again 118.50 but, as it looks clear from the M30-H1 set up, it would be only another good reason for bouncing up and trying to regain the upper part of the descending channel (over the green line working in the middle of our bands).
Author: Simone Ambrogio
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