FX.co ★ EUR/USD Looking To Trade North

EUR/USD turned to the upside again after registering a temporary drop. The short-term decline from around 1.250 helped us to draw a new uptrend line, which means that the pair could stay above it and continue to increase.

The pair approaches the 1.2150 level again, so breaking and jumping above this obstacle could bring a buying opportunity. Technically, EUR/USD is still expected to increase after escaping from the former minor down channel, after breaking above the red downtrend line.

Trading Conclusion!

Buy EUR/USD if it jumps above the former high, let's say if it reaches the 1.2160 level, and use the 1.2200 as a first upside target. Passing above 1.22 as well could signal a larger growth towards 1.23 and 1.24 levels.