FX.co ★ EURUSD holding above ascending trendline support! Further rise incoming!

Price holding above ascending trendline support. A short term bounce above 1st support at 1.20387 towards 1st resistance at 1.20660 can be expected. RSI is also above support and re-integrated from being oversold.

Trading Recommendation

Entry: 1.20387

Reason for Entry:

38.2% Fibonacci retracement, ascending trendline support

Take Profit: 1.20660

Reason for Take Profit:

38.20% Fibonacci retracement

Stop Loss: 1.20232

Reason for Stop Loss:

Recent swing low