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- EUR/USD Price Analysis: Bulls eye a break of key 1.0550 area, eyes on 1.0600
EUR/USD Price Analysis: Bulls eye a break of key 1.0550 area, eyes on 1.0600
- EUR/USD remains in a bullish structure with a focus on a break above 1.0600.
- The bull's first challenge will be the micro trendline resistance and the 1.0550s.
As per the prior analysis, EUR/USD bulls have committed to the course and remain on the front side of the bullish dynamic trendline support as the following will illustrate:
EUR/USD prior analysis
While on the front side of the daily trendline, it was noted that EUR/USD bulls were firming from near 1.0480 support and were taking on resistance around 1.0570.
A break there has opened the risk of a move in EUR/USD beyond 1.0600.
A move in EUR/USD below the trendline and 1.0490 would open prospects of a deeper correction towards 1.0400.
EUR/USD update
The price remains in a bullish structure while holding in the 1.05s and the focus for the opening sessions is on a bullish continuation:
EUR/USD H1 chart
The bull's first challenge will be the micro trendline resistance and the 1.0550s.
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