EUR/USD: Trading recommendations

Yuri Papshev Independent Analyst

EUR/USD has managed to rally over the past two days, returning to the zone of the long-term key support level of 1.1940. Above this level and the support level of 1.1880 EUR/USD remains in the bull market zone.

The breakdown of the important resistance levels 1.1989, 1.2005 will confirm the resumption of the long-term upward dynamics of EUR/USD.

In an alternative scenario and after a confirmed breakdown of the 1.1880 support level, EUR/USD may continue to decline towards the 1.1780 support level. The break of the long-term key support level 1.1610 will finally break the bullish trend of EUR/USD.

Trading recommendations

Sell Stop 1.1910. Stop-Loss 1.1960. Take-Profit 1.1880, 1.1780, 1.1710, 1.1610.

Buy Stop 1.1960. Stop-Loss 1.1910. Take-Profit 1.1989, 1.2005, 1.2070, 1.2081, 1.2180, 1.2260, 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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