Hi Traders!
We had a breakout of the short term resistance level of 1.10004 which then led to a pullback around the 1.10671 level as the market tried to re-test the main resistance level of 1.10760 which made a double top formation.
If the market stays below 1.10671 we are likely to see a re-test of 1.10004 as support with the 100 moving average also near that level at 1.09983, any breaks above 1.10671 we are likely to see another re-test of the main resistance at 1.10760 and if that breaks, there is potential of a further push to the 1.11000 level.
Please don't forget follow, like and comment, there will be plenty more to come from us over the next few days and weeks - your support is greatly appreciated!
BluetonaFX
We had a breakout of the short term resistance level of 1.10004 which then led to a pullback around the 1.10671 level as the market tried to re-test the main resistance level of 1.10760 which made a double top formation.
If the market stays below 1.10671 we are likely to see a re-test of 1.10004 as support with the 100 moving average also near that level at 1.09983, any breaks above 1.10671 we are likely to see another re-test of the main resistance at 1.10760 and if that breaks, there is potential of a further push to the 1.11000 level.
Please don't forget follow, like and comment, there will be plenty more to come from us over the next few days and weeks - your support is greatly appreciated!
BluetonaFX
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