EUR/USD – 1H – BUYThe currency pair breaks through the bearish trendline up.
A bullish movement upwards to the next resistance line at 1.11887 is likely expected.
Caution: A possible counter-trend in the direction of the support zone at 1.10684 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 0.24-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 1.11887 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance zone at 1.11887 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.12012 |
| 2nd High | 1.11902 |
| Next High | 1.11887 |
| Current Price | 1.11552 |
| Next Low | 1.10684 |
| 2nd Low | 1.10053 |
| 3rd Low | 1.10018 |