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21.09.201808:39 Forex Analysis & Reviews: Technical analysis of EUR/USD for September 21, 2018

Long-term review

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EUR/USD has broken above resistance of 1.1730 yesterday and is now trading around 1.1770. Trend remains bullish. This break out is a bullish sign and suggests that any pull back should be bought as we should be heading towards 1.19-1.21. It is important though that price does not fall below 1.1660.

Black line - resistance (broken)

Red line - support

Red rectangle - pull back target and important support

EUR/USD continues to make higher highs and higher lows. Price has broken through the multiple top at 1.1730 and should continue above 1.18 today. Any pull back should not break below 1.17-1.1725. A break below this support area will increase the chances of the break out being a false one. Major support trend line is at 1.1660. Breaking below this level will cancel my bullish view.

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