In our latest EURUSD analysis we pointed out when price was trading at 1.1820 that it was right above key short-term support and traders better prefer bullish positions as the risk is low relative to the potential reward. After one day price has reached as high as 1.1893, while now trading at 1.1872.

analytics5fb3e2805e0e0.jpg

Blue lines – bullish channel

EURUSD continues making higher highs and higher lows in the short-term. Price remains inside the bullish channel. We could see a pull back over the next 12 hours towards 1.1850 where we find channel support. Resistance is at 1.19. Breaking below 1.1850 could push price lower towards 1.1820-1.18 again. Traders better take profits from yesterday’s short-term positioning and wait for a pull back towards 1.1850 to see how price reacts to the support. A bounce off the support (lower channel boundary) would be a bullish sign.

The material has been provided by InstaForex Company – www.instaforex.com

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.