MarketDeal24.Com – The euro closed at a low of 1.1816 on Thursday against the US dollar and created a hammer candle stick signal.
In the weekly time frame, demand for the EUR/USD pair continued to rise from the support of 1.1621 in early November and buyers came to the market to try to move the price to the 2016 opening level of 1.2004, followed by Quasimodo Resistance 1.2092.
The Daily Time Frame recently created a bullish candle stick. The daily chart has resistance at 1.1940, followed by Quasimodo resistance at 1.1965.
The pair found support around 1.1820 yesterday in a four-hour time frame. Quasimodo resistance will target 1.1895 and 1.19 handles if the price rises today. On the other hand, if the price falls and breaks 1.18, the price may go to Quasimodo support 1.1779.