FX.co ★ EUR/USD for July 31,2019 - Support on the test

EUR has been trading exactly how I planned. The price tested my upward target at the price of 1.1150. Anyway, EUR did trade lower in past 10 hours but the key support is on the test 1.1135. The short-term trend is bullish due to higher highs and higher lowers in the background. Watch for potential buying opportunities.

Technical picture:

Blur rectangle – Support 1 (1.1135)

Orange horizontal line – Resistance (1.1187)

Blue horizontal line – Resistance 2 (1.1205)

Red rectangle – Key support (1.1100-1.1114)

On the 4H time-frame I found that Stochastic oscillator got a flip up and that slow line is going higher, which is good sign for the further upside continuation. Additionally, there is the potential overbought condition on the Stochastic, which is another sign for the potential upside, Today is FOMC day and you should be more careful with your risk.