EUR/USD targeting 1.19 psychological level


EUR/USD continues to increase as expected as long as it stays above the uptrend line. The pair has retested the uptrend line and the 1.1800 psychological level signaling further growth. The next upside target is seen at the 1.1900 psychological level.

The upside scenario could be invalidated only by a valid breakdown below the uptrend line. This scenario is less likely to happen right now as the rate stands far above it. A larger upward movement could be activated if the rate jumps above 1.1908 former high.

Trading Conclusion

EUR/USD could resume its growth as long as it stays above the uptrend line. A temporary decline could help us to buy EUR/USD from lower levels. Jumping and stabilizing above 1.1900 and beyond 1.1908 could signal further growth towards new upwards targets.

The material has been provided by InstaForex Company -