EUR/USD has retreated after making high of 1.2568 level. It is trading between Schiff pitchfork channel for the past 10 trading session. The major support is around 1.2250 and nay trend reversal can happen only below that level.
On the upper side minor resistance is around 1.2360 and any break above will target 1.2430/1.2477.
The break below of 1.2250 would extend loss to 1.2200/1.2047 (161.8% retracement of 1.2246 and 1.2568).
Recommendation: Buy EUR/USD around 1.2295, SL 1.2243, Target 1.2477
On the upper side minor resistance is around 1.2360 and any break above will target 1.2430/1.2477.
The break below of 1.2250 would extend loss to 1.2200/1.2047 (161.8% retracement of 1.2246 and 1.2568).
Recommendation: Buy EUR/USD around 1.2295, SL 1.2243, Target 1.2477