EUR Index poised to rally after recent low rejected

on Jul 21, 2014
Updated: Oct 21, 2019

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We had previously mentioned the risk of a stop-hunt through key support before a rally and it appears that was right on the money. 1.3500 was breached but then we rejected lows for the index and have posted some quite bullish looking price action. That said, we may struggle around the current consolidation range before we really rally and even then the weekly pivot at 1.3552 looks set to be strong resistance. We also have bullish RSI divergence for the EUR% index. I am bullish EUR%
**EUR% Index Resistance: EURUSD 1.3534, 1.3556, 1.3584**
**EUR% Index Support: EURUSD 1.3520, 1.3500, 1.3484**


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