EURUSD Weekly Summary: Bullish flag broken, Euro could continue the bullish run

Filed in euro, Gold, o, silver by on February 19, 2011 0 Comments

EURUSD Weekly Summary: Bullish flag broken, Euro could continue the bullish run to 1.3860 or higher The EURUSD slipped below 1.3500 this week, but found a good support around 1.3420 area before bounced significantly higher and hit 1.3714 on Friday. As you can see on my daily chart below, the bullish flag is broken out to the upside, suggests potential bullish continuation scenario which started from 1.2873. This fact not only open the door for further bullish run testing 1.3800 – 1.3860 key resistance area, but could create a bigger bullish scenario testing 1.4200 – 1.4300. Immediate support is seen around 1.3650 followed by 1.3550. A break below 1.3550 could cancel the bullish flag upside scenario re-testing 1.3420 key support level. Have a great weekend and see you guys next week.

See the article here:
EURUSD Weekly Summary: Bullish flag broken, Euro could continue the bullish run

Tags: , , , , , , , , ,

About the Author ()

Leave a Reply

Your email address will not be published. Required fields are marked *