EUR/USD out of the bearish channel: Short term upside
|EUR/USD broke recently broke out of the bearish channel and it is now, on strong volumes, pointing to the upside.
At present, the rate is holding at 1.2200 which acted as previous resistance. However, given the positive momentum, we believe it has room to reach previous high. Tight stop loss just below the 9MA.
Entry 1.2180.
Target 1.2340.
Stop-loss 1.2116.
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