EUR/USD Analysis (2015.11.12)
Target Level : 1.0807
Target Period : 18 hours
Ascending Triangle has broken through the resistance line at 12-Nov-01:30 2015 GMT. Possible bullish price movement forecast for the next 18 hours towards 1.081.
Supporting Indicators :
Upward sloping Moving Average
Resistance Levels :
( B ) 1.0774Last resistance turning point of Ascending Triangle.
( A ) 1.0707Last support turning point of Ascending Triangle.
EUR/USD Intraday: key resistance at 1.079.
Most Likely Scenario: Short positions below 1.079 with targets @ 1.0705 & 1.067 in extension.
Alternative scenario: Above 1.079 look for further upside with 1.083 & 1.086 as targets.
Comment: As long as 1.079 is resistance, look for choppy price action with a bearish bias
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