FX.co ★ EUR/USD Continues Higher!

EUR/USD has decreased a little in the short term but the outlook is bullish. The price could resume its uptrend as long it stays above the black uptrend line. As you already know from my previous analysis, the next upside target is represented by the 1.22 psychological level.

Maybe the temporary decline was natural after the most recent upside movement. Now the pair is trying to attract more buyers, to accumulate upside energy by moving sideways before it approaches the 1.2200 next target.

Passing and stabilizing above 1.22 suggests a larger upside movement, growth, 1.2250, and the 1.2300 could be used as upside targets and obstacles.

• Trading Conclusion

EUR/USD should continue higher towards fresh new highs as long it stays above the uptrend line. You can still catch the upwards movement, going long from above the 1.2150 level could be an option.

The uptrend could over only when EUR/USD will drop below the uptrend line. This scenario could offer us a selling signal, opportunity.