ERU USD broke higher during the course of the week, slicing through the 1.21 level.
That is an area that has been massive resistance previously,
so it does make sense that we would continue to go higher now that we have done this.
The fact that we are closing towards the top of the weekly candlestick is a bullish sign as well,
but it should be noted that on the daily chart we have seen a little bit of exhaustion for both the Thursday and Friday candlesticks,
perhaps in a bid for people to take profit heading into the weekend. Furthermore,
we are a little bit extended, so I like the idea of buying at support eare 1.21
That is an area that has been massive resistance previously,
so it does make sense that we would continue to go higher now that we have done this.
The fact that we are closing towards the top of the weekly candlestick is a bullish sign as well,
but it should be noted that on the daily chart we have seen a little bit of exhaustion for both the Thursday and Friday candlesticks,
perhaps in a bid for people to take profit heading into the weekend. Furthermore,
we are a little bit extended, so I like the idea of buying at support eare 1.21
