EUR/USD Breakout above the Resistance Level

1 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

The EUR/USD is bullish and breakout higher is expected. We see a flat top ascending triangle and potential breakout is expected higher.

1.2257 is the resistance level. We should see the breakout and the price will go higher. However, if the price drops to POC we might see fresh buyers. Positional trades come around 1.2200-10 while breakout trades happen above 1.2260. Targets are 1.2274, 1.2289 and 1.2332.

Break below 1.2196 should target lower levels 1.2170 and 1.2150.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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