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EUR/USD Potential Upward Movement

EUR/USD Long-Term Trend: Bullish

Key Resistance Levels: 1.13888, 1.14366, 1.15000.

Key Support Levels: 1.13137, 1.12647, 1.12000.

1-Hr Chart:

The price on the higher time frame managed to break the descending channel to the upside where a series of higher lows has been posted showing that the buyers are about to take control of the market and move to the upside toward the next key resistance level.

EUR/USD Medium-Term Trend: Bullish

15-Mins Chart:

On the lower time frame, the price was in a Wyckoff accumulation phase where it managed to find buyers around the 61.80% Fibonacci retracement level which led to a move higher in the opposite direction of the main trend. A lower correction could be seen before a new bullish impulsive wave toward the target profits.

Signal Idea:

Buy Limit Order @ 1.13152

TP 1 @ 1.13860

TP 2 @ 1.14366

Stop Loss @ 1.12909

Trade Safely 🙂

In many cases we manually use market orders instead of pending orders to trade the trading ideas we send you. This is higher risk, and you can decide if it suits your trading style.

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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