FX.co ★ EUR/USD heading towards new highs

EUR/USD uptrend in play

The EUR/USD pair is into an uptrend, so further growth is somehow expected. It stands right below the 1.1661 former high. Its failure to reach and retest the uptrend line signaled strong buyers.

Jumping and stabilizing above the 1.1661 level may announce further growth in the coming days. The upside scenario could be invalidated only by a drop below the uptrend line. Technically, the pair has decreased a little in the short term but it was natural after registering strong upside momentum.

EUR/USD trading conclusion

Passing and stabilizing above 1.1661 is seen as a potential buying opportunity with the first upside target at the 1.1700 psychological level.