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EUR/USD Potential Upward Movement

EUR/USD Long-Term Trend: Bullish

Key Resistance Levels: 1.2150, 1.2240, 1.2300

Key Support Levels: 1.2059, 1.1992, 1.1951

Daily Chart:

The price on the higher time frame is posting higher highs and lows and managed to break the strong resistance around the 1.2059 USD mark. A lower correction has been posted to this level which is now a support. Further movement to the upside might be seen in the coming hours.

EUR/USD Medium-Term Trend: Bullish

1-hour Chart:

On the lower time frame the pair trading above the resistance with low volatility. A big bullish engulfing candlestick has been posted showing that the bulls are in control of the market. We expect a rally all the way up to our target profit.

Signal Idea:

Buy Market Order @ 1.2078

TP 1 @ 1.2149

TP 2 @ 1.2240

Stop Loss @ 1.2051

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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