EUR/USD: Trading Recommendations

EUR/USD broke through the important resistance level 1.2180 today (Fibonacci level 50% of upward correction in the wave of the pair's decline from the level 1.3870, which began in May 2014) and continues to grow within the upward channels on the daily and weekly charts, the upper boundaries of which pass through the levels of 1.2340, 1.2450.

More distant growth targets are located at resistance levels 1.2500, 1.2580 (61.8% Fibonacci level and 2018 highs), 1.2600. In an alternative scenario and after the breakdown of the support levels 1.2043, 1.2030 EUR/USD will resume its decline towards the key support levels 1.1960, 1.1890.

Sell Stop 1.2170. Stop-Loss 1.2230. Take-Profit 1.2119, 1.2070, 1.2043, 1.2030, 1.2000, 1.1960, 1.1890, 1.1780

Buy Stop 1.2230. Stop-Loss 1.2170. Take-Profit 1.2300, 1.2340, 1.2450, 1.2580, 1.2600

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