$EURUSD Forex Signal: Rising to Test Resistance in $1.08 Area
, I said that the technical picture looked choppy between $1.0625 and $1.0800. I thought that the best strategy would probably be to trade reversals from any price extremes such as $1.0626 and $1.0796.
The technical picture is now more bullish, having produced what looks like a bullish cup and handle pattern at the bottom The Euro is the strongest major currency while the US Dollar is the weakest, so this currency pair is in focus. Another reason for this is that both central banks will be meeting If the price will get established above this level after the London open, say with two consecutive higher hourly closes, that will suggest a further upwards move is likely to happen, with the price likely to reach $1.0835 quite quickly., which is expected to fall strongly to 4.1%.
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