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Bulls slowly manage to push to price for a new daily high for EUR/USD

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The dollar today, leading to a weaker dollar, gave a breath of air to the bulls in the euro as the price managed to record a new peak for the day, but found it hard at 61.8 Fibonacci in the zone at 1.12247. The price successfully managed to repel the lower diagonal support in the area marked in green, holding over 23.6 Fibonacci. In order to continue the inertia of the bulls and respectively the upward movement in the euro, buyers will have to strengthen their control over the price, closing over 1.12247. This would give them the potential to push the price to 1.12604, which is Fibro level 50. Alternatively, in the case of technical failure now and in the change of sentiment, the price will turn to the south, returning to the green retest zone again.


 Trader Martin Nikolov

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