EUR/USD scopes to test levels above 1.20

EUR/USD scopes to test levels above 1.20

EUR/USD is looking to extend the bullish bias across the board, following a sell-off from November 27th highs. During the last two days, the pair has been finding demand between the 1.1836 and 1.1798 levels, which could help to boost it towards the -23.6% Fibonacci zone at 1.2019. To the downside, if it manages to break below 1.1798, then it can plummet to test the 1.1711 level.

RSI indicator remains in the positive territory and it’s close to the overbought territory.

EURUSDmH1.png

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EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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