FX.co ★ EURUSD breaks resistance.

EURUSD today broke above the short-term downward sloping resistance trend line. EURUSD broke above the short-term resistance we talked about in previous posts. and has provided us with a bullish signal.

Red lines- bearish channel

EURUSD continues to have the potential of reaching the upper channel boundary. Today that price broke above the black trend line, we have an added bullish signal. We mentioned many times before that at current levels we believe the downside is limited and the upside its not. We expect EURUSD to move higher over the coming sessions.