EUR/USD should wake up today
Yesterday, the uptrend was cancelled on the EUR/USD pair, but it didn’t move down straight away. Let’s see where it is going today. Meanwhile, the pound continues to move upwards.
On M30, a downward pullback is still relevant for EUR/USD.The breakout of the 1.2173 level will cancel the downtrend, while at the level of 1.2135, a downward pullback is likely. It is the situation for now. The next breakout will determine the further direction of the pair.
Today, I set the upward target at the level of 1.2230 as the 1.2190 level is no longer the case. So, I hope to reach 1.2230 and maybe 1.2250 as well.
The downward targets are 1.2130 and 1.2100. This is how the upper and the lower levels have changed in a day.
GBP/USD is very determined in its upward movement. It has already tested all the upper targets. This doesn’t mean though that the uptrend is over. It just happened during the Asian session.
Below there is a level at 1.4020 that has to be tested yet. I think that the price will return there today.
The level of support is found at 1.2100, while the resistance is seen at 1.2250. Bears need to be careful now.
Besides, the forum indicator firmly shows a downtrend. I’m not sure that I want to follow this signal and head for the downside targets. On M30, we can still see a bearish trend. However, I doubt this is a good idea.
On the chart, we can see that the red and the white lines have converged. This means that they will diverge very soon.
As you can see, this is what happened. So, the upward movement will continue. This is the technical picture for the pair.