EURUSD Looks Bullish

EURUSD Looks Bullish

Euro Fx/U.S. Dollar
FX:EURUSD

DLavrov

The price broke the downtrend line and now it’s at SMA100. RSI confirms price reversal from this resistance line and MACD histogram supports a downward movement. We could sell based on this reversal signal but 1.16000 level is a strong support. It can stop and reverse the market. The daily chart gives us bullish signals from RSI and MACD . DMI shows that bears are not so strong now. We should be ready that the market will continue the upward movement after the reversal from 1.16000 support level . In order to catch this movement, we can place pending orders for buy above the previous swing high and SMA100. Entry can be above 1.17750 with stop orders below 1.16000 level. Profit targets should be 1.20000 and 1.23000 resistance levels.
Source: TW DLavrov

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