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EUR/USD, daily time frame:

Looking at the daily time frame, the technical picture is clearly drawn.

  1. A clear downward correction on the daily chart is already completed, in view of a large upward trend.
  2. A clear upward trend reversal to the level of 1.1950 can be noted. If the price breaks through it and consolidates below, it will serve as a signal to decline.
  3. There are three targets to continue growth.

The first growth target is 1.2190. It will be followed by the second one, which is the target of 1.2350. Once the price left this level, it will open the way to the third target of 1.2450.

However, the range for now is this: the lower limit is 1.1950 and the upper limit is 1.2350.

The material has been provided by InstaForex Company – www.instaforex.com

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