EURSEK Sustains Range Breakout from the Cup & Handle Pattern

FX:EURSEK   Euro / Swedish Krona
EURSEK had been forming Cup and Handle Pattern in a one hour time frame. Recently, the prices registered a breakout and then came back into the pattern. However, prices again managed to break through the neckline of the pattern as bulls gain momentum, creating Three White Soldiers pattern. Further, the dots of the Parabolic SAR indicator are moving below the prices, supporting the bullishness in the pair. Thus, the prices are likely to extend its northward journey and traders can grab this buy opportunity with a first profit target set at 10.29413 level, which is equal to the height of the handle. Moreover, if prices sustain above the first target, traders can hold their position towards its second target kept at 10.39156 level. Simultaneously, the stop loss can be set at 10.23975 level, near the swing lows of last four candles.
Trade information
1st Take profit 10.29413
2nd Take profit 10.39156
Stop loss 10.23975


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