FX.co ★ EUR/USD Upside Continuation Is Evident!

EUR/USD has decreased a little but this was only temporary and natural after passing far above the 1.2200 psychological level. The price has come back to test and retest the 1.22 level before resuming its uptrend.

As you already know from my analysis, EUR/USD is expected to increase as long it stays above the uptrend line. The 1.23 psychological level is seen as the next important upside target.

• EUR/USD TRADING CONCLUSION

Passing above the former peak high, somewhere above 1.2280 signals further drop. A new higher high brings a buying opportunity.

A breakout above the 1.2300 level could announce further growth towards the 1.2400 psychological level.