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Cable holds bullish bias; n/t congestion top in focus

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 10, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EURUSD The Euro peaked 1.1336, fresh 3 ½ month high, on yesterday’s acceleration and closed above 1.1264, former Fib 76.4% barrier, confirming bullish resumption on long bullish daily candle. Consolidation is under way and expected to precede fresh leg higher, as sentiment remains positive for Euro and favors final attack at next target at 1.1350, 20 Oct high, which was approached on yesterday’s rally. Setup of daily MA’s is firmly bullish, with 10/200SMA’s Golden Cross, formed at 1.1055,

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