EURUSD Trading at Resistance

EURUSD jumped higher after Sunday night open, pushed by the news coming out of the US. Showing a first sign of having formed a short time base above the 1.4200 on Friday the pair managed to move over 200 points in just a couple of hours to reach the 1.4400 resistance area. here we have the 3rd of September low and also a bearish trendline connecting lower highs. EURUSD jumped higher after Sunday night open, pushed by the news coming out of the US. Showing a first sign of having formed a short time base above the 1.4200 on Friday the pair managed to move over 200 points in just a couple of hours to reach the 1.4400 resistance area. Here we have the 3rd of September low and also a bearish trendline connecting lower highs; breaking above this trendline would signal that the bulls still have enough energy, if so, after the break a retest of the now support trendline should offer a good long entry. Something to be aware of is that on the larger timeframes the bias is still bearish.

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