EUR/USD recently has failed to keep gains above 1.22.
CURRENT PRICE ACTION:
Bulls are rushing psychological hurdle of 1.22 for the third consecutive day.
If rejected above 1.22 is followed by a downside break of the trendline recent ascending trendline support is located at 1.2192.
TODAY RESISTANCE:
Very simple targets of previous highs.
Target 1 1.22147
Target 2 1.22535
LEVELS TO WATCH
Price consoliation or volatility above 1.22147 can trigger a bull trap.
CURRENT PRICE ACTION:
Bulls are rushing psychological hurdle of 1.22 for the third consecutive day.
If rejected above 1.22 is followed by a downside break of the trendline recent ascending trendline support is located at 1.2192.
TODAY RESISTANCE:
Very simple targets of previous highs.
Target 1 1.22147
Target 2 1.22535
LEVELS TO WATCH
Price consoliation or volatility above 1.22147 can trigger a bull trap.
Note
DAILY ASCENDING TRENDLINENote
BREAK BELOW TRENDLINE INVALIDATES THE TRADENote
🤓 TRADE MANAGEMENTDAY TRADE:
🎯 TARGET 1 hit - position size halved
Stops moved to entry for no risk on the next leg.
TREND TRADE:
🚀 Daily Chart still holding the ascending trend line
Trade closed: target reached
🎯 TARGET 2 HITAll Profits Taken
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.