EURUSD is testing the strong upside support
EURUSD is testing the strong upside support uptrend line 1.1950-1.2000 zone. A confirmed break above 1.2170 is required for an upside continuation higher. A rejection here and a break below 1.19500 could lead to a continuation lower. The overall medium-term is an uptrend but we need to see a confirmation break above 1.2170 for a high probability upside continuation. As long as the EURUSD is above 1.1950 there is a high probability that it will have an upside extension in what seems to be the 5th wave.
Note – We are inclined to long trade entries with the stop loss below 1.1950.
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