Since yesterday 11/03/2019 the pair moved higher breaking above the level 1.12588 and making a daily high at 1.12739.
Today we expect the pair to keep moving higher once we see a valid break confirmation above the 100 MA (Moving Average). A confirmation is needed above 1.12663 and preferably above 1.12739 prior to going long. This scenario will lead the pair (EURUSD) to 1.12852 which is a key resistance level. If the key resistance level is breached we seek for higher levels for the pair.
Short scenario will be revealed if the pair fails to breach above the level 1.12739 and mainly a failure to break above 100 MA hinting for weakness and a strong resistance level.
Our preference for the day is long if EURUSD breaches the level 1.12739 and preferably 1.12852 above 200 MA.
KEY SUPPORT LEVEL: 1.12450
KEY RESISTANCE LEVEL: 1.12739
*Analysis are based on the Hourly Chart.
