LeoPrime Daily Market Analysis

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EURUSD reversed from 1.0925 support area ; Likely to rise to 1.1000

EURUSD continues to rise inside the short-term ABC correction (ii) which started recently from the support area lying between the support level 1.0925 (which reversed the price twice in September), lower daily Bollinger Band and the support trendline of the wide daily down channel from January. Given the moderate bullish sentiment affecting the Euro – coupled with the strong USD dollar bearish sentiment – EURUSD is expected rise further toward the next resistance level 1.1000 (former support from August, acting as resistance after it was broken previously).

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