FX.co ★ EUR/USD Range Pattern Breakout!

EUR/USD Strong Buyers!

The EUR/USD pair registered a strong rise today after failing to reach and retest the 1.0379 former low, which is seen as a downside obstacle. In the short term, it was trapped between the 1.0379 and 1.0496 levels.

The 1.0496 level was seen as an upside obstacle. Now, the price jumped above this level and it seems determined to resume its growth. Escaping from this range pattern on the upside may signal an upside continuation. Only staying below 1.0496 and dropping below 1.0379 could activate more declines.

EUR/USD Trading Conclusion!

Consolidation above1.0496 may signal strong buyers and further growth. This scenario could bring new buying opportunities. The 1.0637 former low stands as a potential upside target.