EUR/USD Long-Term Trend: Bullish
Key Resistance Levels: 1.1918, 1.1984, 1.2000
Key Support Levels: 1.1848, 1.1835, 1.1800
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. In addition a double bottom is formed showing that a reversal is about to happen.
EUR/USD Medium-Term Trend: Bullish
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.
Buy Limit Order @ 1.1882
TP 1 @ 1.1917
TP 2 @ 1.1984
Stop Loss @ 1.1868
Trade Safely 🙂