Cabana Capitals Blog Technical Analysis Possible start of a bullish trend as EURUSD breaks resistance

Possible start of a bullish trend as EURUSD breaks resistance

Possible start of a bullish trend as EURUSD breaks resistance post thumbnail image

EURUSD is once again retesting a key horizontal resistance level at 1.0851. It has tested this level 6 times in the recent past and could simply bounce off like it did last time. However, after this many tries, maybe it’s ready to start a new trend.

Supported by Upward sloping Moving Average

Target: 1.09 Entry: 1.0859 Stop: 1.0841

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