FBS Markets Inc.

EURUSD: bulls going to test next resistance

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14-1-2018-EUR-H4.png

The price went through an important resistance at 1.2080 - 1.2129, but bulls are likely going to test the next resistance at 1.2246. If a pullback from this level happens little later on, there'll be a moment to have a downward correction towards the nearest support at 1.2129 - 1.2080.

14-1-2018-EUR-H1.png

Bulls faced with resistance at 1.2225, so there's time for a local bearish correction. The main intraday target is the closest support at 1.2164. This level could be a departure point for another upward price movement in the direction of the next resistance at 1.2225 - 1.2246.

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