A strong rally Monday through the October recovery peak at 109.00, to reinforce last Wednesday’s rebound from just below our 108.27/23 support area (from 108.22) and the strong, mid-October advance and intermediate-term bullish shift through the key 108.45/48 peaks, to keep the bias higher for Tuesday.
A mid-October surge through the key 108.45/48 peaks signalled an intermediate-term bullish shift.
- We see an upside bias through 109.04; break here aims for key 109.32, maybe then towards 109.60/62.
- But below 108.63 opens risk down to 108.23/22.
Forextraders' Broker of the Month
BlackBull Markets is a reliable and well-respected trading platform that provides its customers with high-quality access to a wide range of asset groups. The broker is headquartered in New Zealand which explains why it has flown under the radar for a few years but it is a great broker that is now building a global following. The BlackBull Markets site is intuitive and easy to use, making it an ideal choice for beginners.