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Forex

Euro bullish breakout above 1.1370

Euro bullish breakout above 1.1370

February 20, OctaFX – The euro is building bullish momentum against the US dollar, after breaking above the 1.1337 resistance level during Tuesday’s US trading session.

EURUSD technical outlook

If EURUSD bulls can sustain the pressure and force price above the 1.1370 level, the pair could easily rally towards the 1.1410 level. Technical indicators across the four-hour time frame are bullish and signaling further gains in the euro.

  • The EURUSD pair is bullish while trading above the 1.1337 level, key technical resistance is found at the 1.1370 and 1.1410 levels.
  • If the EURUSD pair moves below the 1.1337 level, sellers may test towards the 1.1300 and 1.1285 support levels.

Disclaimer

This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.