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EURUSD Surges Up Into Key Resistance

The EURUSD surged higher this week and tested the key resistance up near 1.3200 - 1.3250. The market is currently consolidating just below that resistance after stalling out today. Near-term momentum has clearly been bullish, but we could see a rotation back down to support before the upward momentum resumes. Traders can keep an eye out for price action sell signals on the 4 hour or daily chart up near this current 1.3200 - 1.3250 resistance. If the market does move lower we can then look for price action buy signals from support down near 1.3000 area to trade back in-line with the overall bullish momentum in this market right now.

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