Since October 27, EUR/USD currency pair has been trending down inside a bearish channel marked on the chart.
Last Week, EUR/USD spent few days moving sideways inside a consolidation zone 1.3275-1.3400.
On Wednesday, we had a breakout to the upside also breaking the marked bullish channel extending since October 27.
On Friday, we suggested having a long entry at 1.3380 then On Monday this week we suggested the same trade.
Yesterday the pair revisited the entry level again giving the third opportunity to catch the trade which is giving about +45 pips now.
It's important to note that the pair is probavly forming a Flag continuation pattern which is confirmed when we have 4H closure above 1.3470 with full pattern target at 1.3700.
The most prominent resistance levels are: 1.3530, 1.3600 then 1.3800.
The most prominent support levels are: 1.3380, 1.3280 then 1.3215.
Based on the previous analysis:
We have open LONG position at 1.3380 with SL placed below 1.3260.
TP should be at 1.3440. 1.3500, 1.3570, 1.3600 then 1.3670.