EURUSD had a significant rebound last week after finding support at a 9-month rising trendline as well as the resistance turned support level 1.2030.
It was also seen rebounding off from the mid-Bollinger band and has been trading at the higher band for the past 9 months too.
EURUSD currently faces some resistance at 1.2140 but the rejection was recovered very soon last Friday, showing that buyers continue to emerge whenever the price dip.
This week, we could expect EURUSD to continue climbing but may face a second rejection at 1.2140 before a stronger upside movement.
If the price pulls back again, look to buy again at 1.2050 demand zone.
Otherwise, EURUSD is expected to climb and reach the supply zone at 1.2250 region.
It was also seen rebounding off from the mid-Bollinger band and has been trading at the higher band for the past 9 months too.
EURUSD currently faces some resistance at 1.2140 but the rejection was recovered very soon last Friday, showing that buyers continue to emerge whenever the price dip.
This week, we could expect EURUSD to continue climbing but may face a second rejection at 1.2140 before a stronger upside movement.
If the price pulls back again, look to buy again at 1.2050 demand zone.
Otherwise, EURUSD is expected to climb and reach the supply zone at 1.2250 region.
