Euro changes the direction

FX:EURUSD   Euro / U.S. Dollar
133 0 1
Target: 1.1275
Risk: 1.0885

Technical Reasons:

A double bottom pattern was completed by breaching 1.0885 level, with positive targets that surpasses the descending channel’s resistance which is located at 1.1275.

The exponential moving averages 50 and 100 offers positive support to the price, and stochastic is positive now, while we need to monitor the price when reaching the targeted level, as breaching it will extend the pair’s gains on the short term and medium term basis.

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