Source: Forex Analysis
EUR/USD has been trading upwards. The price tested the level of 1.1320. We are expecting more upside continuation on the EUR/USD.
According to the Daily time-frame, we found that there is the breakout of the 4-day balance in the background and key resistance at the price of 1.1286, which is sign that buyers are in control and that there is demand for the EUR currency. Also, in the background, there is the fail test of the key low at 1.1176, which is another sign of the strength.
Trading recommendation: We are bullish on the EUR from 1.1300 with the targets at 1.1390 and 1.1420. Protective stop is placed at 1.1225.
The material has been provided by InstaForex Company – www.instaforex.com