EURUSD bulls may pick up steam if the 1.1200 door is opened

From xm.com

EURUSD is set to extend its October uptrend to fresh highs after registering a new higher low around the 1.1072 barrier, boosting optimism that the bullish pattern may have a continuation. The RSI and the MACD favor the positive sentiment too, as the indicators are sloping upwards in the bullish area. Still, the 1.1200 barrier, which is the 61.8% Fibonacci retracement of the 1.1411-1.0878 downleg, should leave the door open for the rally to stretch up to the 78.6% Fibonacci of 1.1297. In case this happens, and the 1.1297 obstacle proves easy to get through, resistance could next run up to 1.1411. Moving higher, the ... (full story)