EUR/USD BUY Timeframe: H1 Entry at 1.0545 Take profit at 1.06 | Sunny Mason Trading Central🇨🇭LegacyFX official 🏆

EUR/USD

BUY
Timeframe: H1
Entry at 1.0545
Take profit at 1.0621
Stop loss at 1.0515

Last week the EUR/USD retraced to its previous key support of 1.0349 where strong buying interest emerged and a small double bottom pattern appears to be in the making. The pair rebounded over the past four days, and we see further upside in the short-term. A break above minor resistance of 1.0545 appears highly likely in our view which could trigger an intra-day rise to 1.0600, however the price may overshoot and reach higher levels. Over the medium-term, we are of the view that the euro would stabilize and gradually grind higher with initial upside target of 1.0780.

Risk disclosure