EUR/USD: Trading recommendations

Yuri Papshev Independent Analyst

Further correctional decline may lead to a fall in EUR/USD to support levels 1.2136, 1.2110. Above these support levels, long positions are still preferred, and a decline to them should be viewed as a good opportunity to build up long positions.

In case of renewed growth and after the breakdown of the resistance level of 1.2180, EUR / USD will head towards the upper border of the ascending channel on the weekly chart and the level of 1.2260.

Support levels: 1.2136, 1.2110, 1.2070, 1.2010, 1.1935, 1.1780, 1.1710, 1.1600.

Resistance levels: 1.2180, 1.2260, 1.2340, 1.2450, 1.2580, 1.2600.

Trading recommendations

Sell Stop 1.2150. Stop-Loss 1.2190. Take-Profit 1.2136, 1.2110, 1.2070, 1.2010, 1.1935, 1.1780, 1.1710, 1.1600.

Buy Stop 1.2190. Stop-Loss 1.2150. Take-Profit 1.2260, 1.2300, 1.2340, 1.2450, 1.2580, 1.2600.

Author

Yuri Papshev

Independent Analyst

Independent trader and analyst at Forex market. Trade experience - more than 10 years. In trade Yuri Papshev uses a combination of fundamental and technical analysis.

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