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EUR/USD Potential Upward Movement

EUR/USD Long-Term Trend: Bullish

Key Resistance Levels: 1.1878, 1.1895, 1.1900

Key Support Levels: 1.1848, 1.1801, 1.1785

Daily Chart:

The price on the higher time frame posted an engulfing bullish pattern near the strong support around the 1.1801 USD mark. This led to a reversal and to a move upward which shows that the buyers are overwhelming the sellers and we might see the price rallying soon.

EUR/USD Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the price managed to break the bullish flag to the upside while the pair is traded inside a bearish channel formation. A lower correction is expected toward the highlighted zone before a move upward as a impulsive wave.

Signal Idea:

Buy Limit Order @ 1.1848

TP 1 @ 1.1878

TP 2 @ 1.1895

Stop Loss @ 1.1837

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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