EURUSD – fresh bulls need close above 30SMA to confirm reversal and signal further advance
Recovery rally from Thursday’s low at 1.2154 is gaining fresh momentum and extended through pivotal barriers at 1.2298/1.2307 (10SMA / Fibo 38.2% of 1.2555/1.2154 descend), generating strong bullish signal.
Improving daily techs are supportive for further recovery as recent Euro bears get squeezed further.
Fresh bulls look for today’s close above 1.2300 zone to validate bullish signal, with lift above 1.2350 zone (30SMA / daily Kijun-sen) to confirm reversal and open way for test of next pivot at 1.2400 (Fibo 61.8% of 1.2555/1.2154).
Rising daily cloud top (1.2264) should contain extended dips and keep the downside protected.
Res: 1.2350; 1.2400; 1.2435; 1.2460
Sup: 1.2300; 1.2264; 1.2251; 1.2205