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- EUR/USD Price Analysis: Bulls seek a breakout for fresh hourly highs
EUR/USD Price Analysis: Bulls seek a breakout for fresh hourly highs
- EUR/USD bulls are taking on the 15-min resistance.
- Fresh impulsive highs could be on the cards for the day ahead.
EUR/USD is on the verge of a break higher as it continues on the momentum iofthe aftermath of the Federal Reserve meeting on Wednesday. The following illustrates the recent price action from both an hourly and shorter-term time, showing market structure and perspective trajectory in price.
EUR/USD H1 chart
The price ran to a 38.2% Fibonacci correction level from where the bulls engaged and intend on taking the price on for a higher high.
EUR/USD 15-min chart
From a 15-minute perspective, the price is running into what could be resistance and for which might force the bulls back a notch. If the bulls commit, however, at the prior resistance that would be expected to act as a support, then there will be prospects of r a surge higher in the coming hours.
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