EUR/USD – 1H – BUYThe currency pair breaks through the descending trendline upwards
A bullish ascent up to the next resistance at 1.08392 will continue.
Caution: A possible counter-trend in the direction of the support level at 1.07705 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend will continue. Current target is 1.08207212 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the resistance zone at 1.08392 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.08732 |
| 2nd High | 1.08714 |
| Next High | 1.08392 |
| Current Price | 1.08188 |
| Next Low | 1.07705 |
| 2nd Low | 1.07609 |
| 3rd Low |