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EUR/USD Violates Double Top Pattern – Buy Signal

EUR/USD Long-Term Trend: Bullish

Key Resistance Levels: 1.2154, 1.2159, 1.2166

Key Support Levels: 1.2143, 1.2135, 1.2131

Daily Chart:

The EUR/USD is violating a strong intraday resistance area of 1.2180 level and above this, the pair has the potential to go after the next target level of 1.2243 level.

EUR/USD Medium-Term Trend: Bullish

1-hour Chart:

On the lower time frame the pair trading above the triple top resistance level of 1.2180 which now is working as a support. We expect a breakout to the upside and a rally all the way up to the target profit of 1.2243 and 1.2285.

Signal Idea:

Buy Order @ 1.2191

TP 1 @ 1.2243

TP 2 @ 1.2285

Stop Loss @ 1.2140

Trade Safely 🙂

About Ali B.

Live Webinar Speaker & Derivatives (Forex, Commodities, and Indices) Analyst with the broad range of skills for evaluating financial data. Expert in investment trends, technical analysis, fundamental analysis, market sentiments, and trading psychology.

10 comments

  1. I wanna subscribe Forex signal monthly, please.
    Thanks

  2. Does Buy Order mean > Buy Limit ? I mean place the trade as Buy Limit not Market Execution?

    • Hi Saifur,

      Buy Order = Market Execution
      Buy Limit Order = Buy Limit Pending Order

      I hope it helps. Please feel free to ask if there’s any confusion.

  3. Hey Do u think it will hit tp1 or should i cash out

    • Hi John,

      The trade Hit TP1, I hope you enjoyed the trade. Anyways, always move your Stoploss at breakeven (entry price) when trade is 20-25 pips away from your entry price.

  4. When should i breakeven

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