Target: 1.1616
Risk: 1.1040
Technical reasons:
The EURUSD pair shows recovery attempts after the sharp decline that appeared recently and stopped around 1.0936, to witness positive trades and attempts to return to the previously broken ascending channel, after 61.8% Fibonacci level – for the rise from 1.0516 to 1.1624 – managed to stop the last decline.
On the other hand, the price draws a double bottom pattern that appears on chart, therefore, this pattern is key positive factor that supports the chances of return to the ascending channel and trade positively on the short term and medium term basis.
For these reasons, the bullish trend will be expected for coming period, and the main targets go to 1.1357 then 1.1616.
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Risk: 1.1040
Technical reasons:
The EURUSD pair shows recovery attempts after the sharp decline that appeared recently and stopped around 1.0936, to witness positive trades and attempts to return to the previously broken ascending channel, after 61.8% Fibonacci level – for the rise from 1.0516 to 1.1624 – managed to stop the last decline.
On the other hand, the price draws a double bottom pattern that appears on chart, therefore, this pattern is key positive factor that supports the chances of return to the ascending channel and trade positively on the short term and medium term basis.
For these reasons, the bullish trend will be expected for coming period, and the main targets go to 1.1357 then 1.1616.
www.fxhighway.com
www.facebook.com/fxhighwaycom/
twitter.com/
FXHighway mobile App:
Android: play.google.com...re/apps/details?id=com.fxh...
IOS: itunes.apple.co...wa/viewSoftware?id=1071234...