RLinda ! EURUSD-> Breaking resistance can accelerate growth

13 sty 2023

EURUSD is breaking through amid weakening indices after the release of inflation data. The currency pair breaks resistance and points us to a possible acceleration in growth

The price moves into the long zone after exiting the price channel upwards. The potential for growth towards 1.1000 and 1.11700 is opening up. At the moment the price is between the ascending support line (resistance of the previously broken channel) and the limit level 1.08670. The bulls are very confident and in the nearest future might break the resistance.

I expect the growth continuation provided that the consolidation will continue in this range and in the near future the buyers will break through the resistance. Short term target is the liquidity area at 1.0938, medium term target is resistance at 1.10500.

Regards R.Linda!