FX.co ★ EUR/USD Trading Recommendations for 21st July 2016

We see EUR/USD forming a rounding reversal pattern as a reaction to the golden ratio (62%) now. Our goal is to play the rise up to 1.1075 especially after that RSI(34) crossed above its descending resistance-turned-support line as a pre-signal of the bullish rise from here.

1.1075 is a Fibonacci retracement and also a horizontal resistance level. That is why it is our take profit level.

Trading recommendations :

Buy now

Stop loss is at 1.0980

Take profit is at 1.1075