Daily Forex Technical Strategy

//Daily Forex Technical Strategy

The pair has broken above the 1.1000/1020 short-term pivotal resistance that invalidated the preferred bearish scenario (click here for a recap). Right now, the pair has broken above the former minor descending trendline from 06 Aug 2019 high and it is likely to be in the midst of shaping an extended corrective rebound in place since 01 Oct 2019 low towards the major descending channel resistance area from 10 Jan 2019 high. Flip to a bullish bias above 1.0985 key short-term pivotal support for another potential leg of the extended corrective rebound to target the next intermediate resistance at 1.1110 (the minor … (full story)