Forex Technical Analysis: Trend potential – Buy EUR with your take profit at 1.1840.

EURUSD – Up

Buy EUR with your take profit at 1.1840.

Technical observation

EUR corrected itself to the lower side but was contained within the zone 1.1509-1.1476, price is now rising and I expect bullish momentum towards 1.1840 and a possible breakout above it. You can buy this pair now around the zone with your take profit at 1.1840 and stop loss at 1.1340, in case of a clear penetration above 1.1840 then more bullish price movement will be anticipated towards the higher resistance level 1.2164.If you do not want to buy this pair now you can wait for another correction to the above mentioned zone to buy EUR. Right now only long positions look ideal and can be recommended on the daily chart above.

Trade recommendation

Buy EUR within 1.1509-1.1476 with your take profit at 1.1840 and stop loss at 1.1340.

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