EURUSD reacting at ascending trendline support! Bounce incoming!

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EURUSD holding above ascending trendline support. With technical indicators showing room for further bullish momentum, a further push up above 1st support at 1.21589 towards 1st resistance at 1.21817 could be possible.

Trading Recommendation

Entry: 1.21589

Reason for Entry:

50% Fibonacci retracement, 61.8% Fibonacci extension, ascending trendline support

Take Profit: 1.21817

Reason for Take Profit:

Horizontal swing high resistance

Stop Loss: 1.21346

Reason for Stop Loss:

Horizontal swing low support

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

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