EUR/USD Upside Scenario Takes Shape!

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EUR/USD has managed to jump above the downtrend line. Now it could decrease a little to retest it before resuming its upside movement.

A retest followed by an increase above 1.2110 former high could really signal that the pair will continue to increase in the upcoming period.

You already know from my analysis that, EUR/USD will approach and reach fresh new highs if it jumps and stabilizes above the downtrend line.

Trading Conclusion!

Jumping above 1.2110 after testing and retesting the broken downtrend line could bring us a new buying opportunity with a first upside target at 1.2200 psychological level.

The material has been provided by InstaForex Company - www.instaforex.com

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