theforexarmy

EURUSD approaching profit target, remain bullish

Long
FX:EURUSD   Euro / U.S. Dollar
Buy above 1.0600. Stop loss at 1.0562. Take profit at 1.0704.
Reason for the trading strategy (technically):
Price has started to bounce really nicely and is approaching our profit target. We remain bullish above 1.0600 support ( Fibonacci retracement , horizontal swing low support, ascending support) for a further push up to 1.0704 resistance ( Fibonacci retracement , Fibonacci extension , horizontal overlap resistance).
Stochastic (55,5,3) still has good upside potential for its corresponding rise.

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