FX.co ★ EURUSD is facing bullish pressure from support, potential for further upside

Price is facing bullish pressure from our first support in line with our ascending channel's support and 38.2% fibonacci retracement, where we could see a further upside above this level. A break above our upside confirmation level could provide the bullish acceleration to our first resistance target.

Trading Recommendation

Entry: 1.21236

Reason for Entry:

ascending channel's support and 38.2% fibonacci retracement

Take Profit: 1.22239

Reason for Take Profit:

78.6% Fibonacci extension and horizontal swing high resistance

Stop Loss: 1.20863

Reason for Stop Loss:

78.6% Fibonacci extension and horizontal swing low support