EUR/USD rebounds from the channel support, more uptrend ahead?
As mentioned in my Monday's trade plan, EUR/USD has rebounded
from the support line of the ascending channel. So, buyers who bought
at 1.0770 are currently up 100 Pips in their buy trades.
📌Currently, in the 4H chart, the immediate resistance is being offered
by the 1.0885 level.
📌Bulls need to break the 1.0885 level for the uptrend to continue further.
📌Buyers who bought at 1.0770 level can consider closing half of their buy
positions at the current market price. New buy trades can be considered on
a successful break and retest of the 1.0885 level.
📌Long-term target for the bulls is 1.13, which happens to the channel top.
from the support line of the ascending channel. So, buyers who bought
at 1.0770 are currently up 100 Pips in their buy trades.
📌Currently, in the 4H chart, the immediate resistance is being offered
by the 1.0885 level.
📌Bulls need to break the 1.0885 level for the uptrend to continue further.
📌Buyers who bought at 1.0770 level can consider closing half of their buy
positions at the current market price. New buy trades can be considered on
a successful break and retest of the 1.0885 level.
📌Long-term target for the bulls is 1.13, which happens to the channel top.
Note
The 4H resistance is still capping the upsideNote
Price seems to have broken the 4H resistance.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.