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Peet_Serfontein

EURUSD: heading for 1.2000?

Long
Euro / U.S. Dollar (FX:EURUSD)  
Peet_Serfontein  
FX:EURUSD   Euro / U.S. Dollar
Trend Analysis Chart Patterns
4
2
trendanalysis chartpattern
A BULLISH bias (dollar weakness) is applicable above 1.1943.
Trade setup probability: 70%. Target: 1.2011. Stop-loss: 1.1932. Reward/risk ratio 2.5.
Upside price momentum supports the bullish trend.
RSI is at 61, leaving room for further upside price potential.
A strong trend is indicated by the ADX reading of 26.
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