Last week, the EUR/USD currency pair kept the local demand zone of 1.1090-1.1110, which caused the bullish sentiment. Currently, quotes are consolidating. The current technical pattern signals a further recovery of the single currency. Some classic patterns of Price Action, Inside Bar (H4 timeframe), have been formed in the trading instrument. The local resistance is the 1.1150 mark. We recommend paying attention to this situation.
If the price fixes above 1.1150, EUR/USD purchases should be considered. The immediate goal for profit taking is the round level of 1.1200. The movement is tending to 1.1240-1.1270. Confirmations and market entry points should be looked for on lower timeframes. When tracking positions, we recommend using a trailing stop.
This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.Open Account