FX.co ★ EURUSD holding above ascending trendline support! Bounce Incoming!

EURUSD holding above ascending trendline support. With price holding above moving average as support, we see a probability of a further push up above our 1st support at 1.17996 towards graphical swing high resistance and 2nd resistance at 1.18452.

Trading Recommendation

Entry: 1.17996

Reason for Entry:

38.2% Fibonacci retracement, Ascending trendline support, moving average support

Take Profit: 1.18452

Reason for Take Profit:

Graphical swing high

Stop Loss: 1.17751

Reason for Stop Loss:

61.8% Fibonacci retracement