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TFC Commodity Trading Forum

Euro/Trying to Clear Resistance *PIC*

The Euro is trying to clear the 1.314 price resistance pt which was the early Oct low that broke down and was tested as resistance in mid Dec. If price can "clear and hold" above this price it would be bullish and suggest a run to 1.33-1.35. The top end of this range is a Fib 38.2% retrace point as well. Lots of resistance ahead upward to wade through. Could be like swimming through bubble gum from here. Meanwhile price still has to hold above this breakout point and at least consolidate to suggest higher prices ahead. Price presently is testing the late Nov low resistance just above at 1.3212.