Euro/Us-Dollar is currently facing a huge resistance zone between the key-level and the new Yearly Pivot 1.117 and 1.122.
It has overcome a major trend line on the weekly and forming a bullish higher-low pattern.
This area is crucial for the mid- to long term development upcoming. If this neckline area get´s broken upwards and passing the Yearly Pivot, things look much brighter for EURUSD (solely technical, ignoring fundamentals)
Due to the fact, overall market is rather green nature, we need to see if this mentality can be established during January.
As usual I marked the next relevant levels for you. In case this does drop a little, please watch out for the red trend line below the price for possible short opportunities.
Neru
It has overcome a major trend line on the weekly and forming a bullish higher-low pattern.
This area is crucial for the mid- to long term development upcoming. If this neckline area get´s broken upwards and passing the Yearly Pivot, things look much brighter for EURUSD (solely technical, ignoring fundamentals)
Due to the fact, overall market is rather green nature, we need to see if this mentality can be established during January.
As usual I marked the next relevant levels for you. In case this does drop a little, please watch out for the red trend line below the price for possible short opportunities.
Neru
