The Euro resumes higher on Tuesday, keeping firm bullish stance despite Monday candle’s long shadows which hinted indecision, as risk appetite on fresh vaccine hopes keeps the single currency inflated.
Bulls broke above cracked pivotal Fibo barrier at 1.1853 (61.8% of 1.1919/1.1745) and approach next one at 1.1878 (Fibo 76.4%), break of which would open way towards November’s high at 1.1919 (9 Nov) and confirm a double-bottom on daily chart (1.1612/02) on break higher.
Daily techs maintain strong bullish momentum, while moving averages are in bullish setup and created multiple bull-crosses that underpin the action.
Daily close above 1.1853 pivot, after Monday’s failure, would add to bullish tone.
Res: 1.1878, 1.1890, 1.1919, 1.1960.
Sup: 1.1853, 1.1842, 1.1832, 1.1812.
