Charts never lie, EUR/USD rally anticipated

Earlier today, I had mentioned the bird is finding support around 1.1088 here (Quick Look: EUR/USD risks rebound from 1.1088) and then also took a note of a possible rebound from rising trend line support here (EUR/USD kisses rising trend line support)

Well look where it is now

EURUSD D1 (03-17-2016 0109).png

Whats next?

Spot closing today above 1.1218 is just what bulls need and that would open doors for a possible break abv 1.1256 (61.8% Fibo) – 1.1296 and rise towards 1.1376.

On the other hand, failure to sustain abv 1.1218 wuld yield 1.1184.But short-term bullish invalidations is seen only if the spot closes below 1.1184.

 

 

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