FX.co ★ EUR/USD Upside Breakout Brings Reversal!

EUR/USD has increased as much as 1.1813 today and now it has slipped lower. It stands at 1.1804 level. A temporary decline was somehow expected after jumping above the downtrend line (dynamic resistance).

If you remember from my analyses, I've told you that EUR/USD could develop an important upside movement if it breaks above the downtrend line. Technically, the price could come back to test and retest the broken line (dynamic resistance) before resuming its growth.

Trading Conclusion!

EUR/USD could increase further if it jumps above 1.1813 today's high and through 1.1820 level. 1.1877 is seen as an upside target.