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Cable - close above daily cloud top signals further gains

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 20, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD The Euro consolidates under fresh high at 1.1383, posted after three-day recovery rally off 1.1232 (14 Apr correction low. Positive signal was generated on yesterday’s close above 1.1348 (daily Tenkan-sen line), which now acts as initial support. The pair also cracked next significant barrier at 1.1375 (Fibo 61.8% of 1.1463/1.1232 pullback), with close above here, needed to confirm reversal. Daily MA’s turned into full bullish setup, together with north-heading indicators, favor bullish

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