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EUR/USD Potential Upward Movement

EUR/USD Long-Term Trend: Bullish

Key Resistance Levels: 1.2238, 1.2272, 1.2309

Key Support Levels: 1.2170, 1.2150, 1.2134

Daily Chart:

The price on the daily time frame is in a clear uptrend movement where it posted higher highs and lows. A correction count can be seen on the higher time which could lead to a further movement to the upside in the same direction of the main trend.

EUR/USD Medium-Term Trend: Bullish

1-hour Chart:

On the lower time frame the price failed to probe lower than the strong support (1.2170 USD) where it posted a double bottom. This pattern signals a potential reversal and a move to the upside after the neckline is broken.

Signal Idea:

Buy Limit Order @ 1.2187

TP 1 @ 1.2237

TP 2 @ 1.2272

Stop Loss @ 1.2170

Trade Safely 🙂

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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