FX.co ★ EUR/USD Poised To Jump Higher!

EUR/USD moves sideways according to the H4 chart, the price tries to accumulate more bullish/upside energy before resuming the upwards movement. The outlook is bullish, the rate is expected to trade higher, reach new highs, as the uptrend is intact.

The pair is trading at 1.1847, far above the uptrend line, so we could see new higher highs anytime soon. EUR/USD is into a consolidation, so you could still catch the upside movement.

• EUR/USD Trading Tips

Buy EUR/USD if the price reaches the 1.1920 level, if it makes another higher high, the first upside target is seen at the 1.2000 psychological level. If you buy EUR/USD, you should place a Stop Loss order right below the 1.17 level for protection.

Another higher high, peak high, top, will signal a larger upside movement in the upcoming period, so EUR/USD could jump far above 1.2000 level.