EUR/USD: Broken Bullish Pattern
Nenad Kerkez | Nov 26, 2014 11:08AM ET
On EUR/USD we can see W 1 2 3 bullish pattern after 2450 has been broken today. Yesterday 2465 level was broken and judging from current PA, the EUR/USD is targeting 2520. 2560 is the major hurdle and resistance, so it would take strong fundamentals and momentum to break the level. Because price has failed to close below 2400 and 2465 was broken we assume that price is in bullish mode. Both intraday and intraweek ( red ) trendlines are supporting bullish PA in confluence to W bullish pattern. In addition, blue trendline is supporting W 2450 breakout.
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