Consolidation. .
(By Peter Rosenstreich)
• EURUSD is consolidating after massive bullish
rally. Hourly resistance can be found at 1.2070
(29/08/2017 high) while hourly support lies at
1.1820 (31/08/2017 low). Stronger support is
given at a distance at 1.1662 (17/08/2017 low).
Expected to show renewed bullish pressures.
• In the longer term, the momentum is now
turning largely positive. We favour a continued
bullish bias. Key resistance is holding at 1.2252
(25/12/2014 high) while strong support lies at
1.0341 (03/01/2017 low).
