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In previous posts we noted that the bullish divergence and price setup in EURUSD was pointing to at least a short-term reversal above 1.1030 towards 1.11. December starts with a move higher in EURUSD and a reversal from major Fibonacci retracement level.
EURUSD has reversed its short-term at 1.10 where we find the 61.8% Fibonacci retracement of the latest leg up. Price is also breaking above the Ichimoku cloud on a daily basis and this is another bullish signal. The RSI bullish divergence has warned bears not to be greedy and that a reversal bounce was coming. Today all this has been confirmed today. Bulls need to hold above 1.1030-1.10 otherwise we should expect a move towards 1.09 and lower. Resistance is at 1.11. Support is at 1.1060 and next at 1.10.¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.