FXHighway
Long

EURUSD heads higher

FX:EURUSD   Euro Fx/U.S. Dollar
243 0 4
Target: 1.1600
Risk: 1.0700

Technical Reasons:

The EURUSD             pair begins the breaching process to the descending channel’s resistance, getting positive support from the exponential moving averages 50 and 100, which opens the way to turn the trend upwards.

Signs of double bottom pattern appear now, and this pattern’s neckline is located at 1.1050, while stochastic positivity is waited to push the price to breach this level and confirm the continuation of the bullish trend on the short term basis.


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