EURUSD solid advance through 1.3905 points to a more bullish shift
- A narrow range, cautious tone Wednesday and as we stated in our last client report that “we still see a broad range environment, defined by 1.3965 and 1.3670, with a likely cap ahead of the 1.3965 peak before Thursday’s ECB statement” .
- However, the prior push through the 1.3905/10 resistance area has signalled a positive bias to the broader range theme
- The mounting risk (maybe today), after a succession of higher lows and highs since early April, is for a bullish breakout (see below).
WHAT CHANGES THIS?
- Upside: Above 1.3965 sees a bullish shift for 1.4000 and 1.4045..
- Downside: Below the 1.3672 low is to a 1.3645 chart prop, maybe even for 1.3565/55.
Please see full report with levels and latest audio-visual analysis here: http://members.marketchartist.com/Daily/EURUSD.pdf