On the chart above EUR/USD is on an upward
trend. After breaking above a resistance zone 1.1454-1.1176, price retraced
steadily to the just broken zone and was rejected within it before moving up.
Right now it is within the zone and I expect nothing but a bounce within it for
possible bullish momentum towards the resistance line 1.2450 and a possible
breakout above it for a further rise in price towards the highest resistance
1.3456.
Trade recommendation
Buy EUR within 1.14 -1.12
with your take profit at 1.2450 and stop loss around 1.1000.
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