EURUSD Market Review

The market passed throught several strong resistance levels and reached 1.16000 level. It's a very important resistance level which forms with 1.05000 suport level a horizontal channel on the weekly chart. We are going to see a possible breakout and may be a new age for EURUSD. I just remind you that price tried to pass through 1.16000 resistance level 2 times during 2 years. Every time we saw a price reversal from this level with further downward movement to 1.05000 support level. Now we have the 3d attempt and probably this time, we'll see the breakout and a continuation of the up trend. There are following reasons for this. MACD confirms upward movement. DMI confirms strong upward movement. The weekly chart also confirms the strong upward movement. If the market can stay above this important level, probably we'll see a new upward movement to 1.20000 level. It will gives us good trading opportunities. Let's watch closely for price action at 1.160000 level and be ready to follow the market.