The EURUSD bears have failed to break below the 1.2882 daily low from Friday (a Doji candle) after moving as low as 1.2884 this week. Price has today given a bullish engulfing candle, on the 4 hour timeframe chart, as shown below. This high momentum upside move came during the European session and has now likewise seen a break above the descending trend line adding bullish weight. As previously noted, resistance on any move higher may be seen around the 1.3000 psychological round number level. If however the EURUSD bulls can breach above the 1.3000 level this brings the 1.3160 area as a key focus; the 1.3160 area has ... (full story)