EUR/USD escaped from the descending channel signal potential growth. Technically, when the price breaks out from a down channel, we could see a potential move in the opposite direction, a potential growth.
The pair is located at 1.1858 and it stands right below 1.1874 former high which is seen as static resistance. Jumping and stabilizing above this level could indicate further growth in the short term.
Trading Conclusion!
Escaping from the down channel signaled a potential upside reversal. Passing above 1.1874 is seen as a potential buying opportunity with a potential upside target at 1.1958 high. The Stop Loss could be hidden below the 1.1831 level.
The material has been provided by InstaForex Company - www.instaforex.com