EURUSD Threat of a Bullish Re-energizing through 1.3965

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

 Daily EURUSD

Daily EURUSD
Daily EURUSD

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