Dear traders, I understand most of you are waiting for an uptrend
in EUR/USD. Well, it might have just began
I will give you the technical reasons on why EUR/USD might move upwards.
Firstly, notice the pinbar candlestick in the daily chart, which usually leads
to trend reversals.
Secondly, notice how the price has bounced back from the channel support.
So, a combination of these two factors can make EUR/USD move towards
1.0720 in the coming days.
However, the channel is a bearish channel and a breakdown of this would cause
quite a big fall in EURUSD. So, you need to keep this in mind.
in EUR/USD. Well, it might have just began
I will give you the technical reasons on why EUR/USD might move upwards.
Firstly, notice the pinbar candlestick in the daily chart, which usually leads
to trend reversals.
Secondly, notice how the price has bounced back from the channel support.
So, a combination of these two factors can make EUR/USD move towards
1.0720 in the coming days.
However, the channel is a bearish channel and a breakdown of this would cause
quite a big fall in EURUSD. So, you need to keep this in mind.
Comment:
Price closing above 1.06 would be a positive sign for the bulls
Trade closed: target reached:
Closed@1.0720 , Profit : 120 Pips