JP Morgan publish the next technical analysis for EURUSD, and for now - about the key levels for the bullish trend to be continuing in intra-day and day trading:
- "For the bulls to really gain more traction and in order to free the way for a much broader recovery towards 1.1699 and 1.1811 (int. 38.2 % on highest scales), it would take additional breaks above 1.1288 (int. 76.4 % on higher scale) and ultimately above 1.1383 (daily trend)."
- "Particularly below 1.1288, the market remains in the danger zone."
As we see from intra-day H1 chart - the EUR/USD is traded between Fibo resistance at 1.1160 and 23.6% Fibo support at 1.1145 for possible breakout of the price movement of the key resistance levels. Thus, forecast made by JP Morgan may be the rrue in this case.
