EUR/USD Long-Term Trend: Bullish
Key Resistance Levels: 1.16265, 1.16635, 1.16700.
Key Support Levels: 1.15646, 1.14953, 1.14900.
The price on the higher time frame found support around the 1.15646 USD mark where a bullish engulfing pattern has been posted. A reversal occurred and the price moved higher. We expect further upside movement all the way up toward the 1.16265 USD level.
EUR/USD Medium-Term Trend: Bullish
On the lower time frame, the pair posted a double bottom formation which led to a move higher and broke the resistance trend line. The market is traded inside a wedge formation where a lower correction could be seen to the 1.15646 USD mark before the new bullish impulsive wave.
Buy Limit Order @ 1.15659
TP 1 @ 1.16256
TP 2 @ 1.16635
Stop Loss @ 1.15400
Trade Safely 🙂