EUR/USD Potential Upward Movement

EUR/USD Long-Term Trend: Bullish

Key Resistance Levels: 1.1918, 1.1984, 1.2000

Key Support Levels: 1.1848, 1.1835, 1.1800

Daily Chart:

The price on the higher time frame posted a bullish engulfing pattern where the second candlestick of this formation has a long wick to the downside showing that the buyers took over the market.

EUR/USD Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair succeeded to break the bearish channel to the upside where we can notice a formation of an inverse head and shoulders. A lower correction count could be seen to the highlighted zone before a rally to the target profit.

Signal Idea:

Buy Limit Order @ 1.1849

TP 1 @ 1.1890

TP 2 @ 1.1918

Stop Loss @ 1.1835

Trade Safely 🙂