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Strong resistance above keeps EUR/USD unable to make further gains? If a breakout of the bull market is coming?

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The EUR/USD D1 chart is currently in a consolidation phase, with strong resistance above preventing further gains. At present, the upper resistance level is very critical. Once the upper resistance level is successfully broken, the price has a lot of room for upside. The distance between the SAR indicator and the price is very close. After waiting for the upper SAR indicator to be broken through, it can be bullish.

The M30 chart is currently Fibonacci backtested at 0.382 to form a support level that prevents the price from falling further, and the trend continues to rise. The double line of the MACD indicator also formed a golden cross, and the long trading volume also gradually appeared.

At present, we need to pay attention to the data on the number of initial jobless claims released by the United States at 8.30 tonight (GMT+8).

All transactions involve risks, the above analysis is for reference only. When placing an order, be sure to set the lot size and remember to set the stop loss.

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Risk Warning : Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. 

Risk Warning:
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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Lepanto Financial Advisers Limited is the holding company of Ultimate Pinnacle Limited. (Address: Fifth Floor, Suite 23, 63/66 Hatton Garden, London, England, EC1N 8LE). All services and products accessible through the site www.upfxtrade.com are provided by Ultimate Pinnacle Limited with the registered address Suite 305, Griffith Corporate Center P.O Box 1510, Beachmont Kingstown St.Vincent & the Grenadines.
Ultimate Pinnacle Limited is a limited liability company established in Belize as an operating subsidiary within the Lepanto Group of companies (collectively “Ultimate Pinnacle”) under Registration No. 173474 and having its registered address at No. 1 Corner of Hutson Street and Marine Parade, Belize City, Belize.

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