Overview:
Pivot: 1.1067.
Trend: uptrend.
The EUR/USD pair continues to move upwards from the level of 1.1067.
Yesterday, the pair rose from the level of 1.1067 to a top around 1.1214.
Today, the first resistance level is seen at 1.1214 followed by 1.1280, while daily support 1 is seen at 1.1067 (61.8% Fibonacci retracement).
According to the previous events, the EUR/USD pair is still moving between the levels of 1.1130 and 1.1280 ; so we expect a range of 150 pips.
Furthermore, if the trend is able to break out through the first resistance level at 1.1214, we should see the pair climbing towards the double top (1.1280) to test it.
Therefore, buy above the level of 1.1214 with the first target at 1.1280 in order to test the daily resistance 1 and further to 1.1280. Also, it might be noted that the level of 1.1333 is a good place to take profit because it will form a new double top.
On the other hand, in case a reversal takes place and the EUR/USD pair breaks through the support level of 1.1067, a further decline to 1.0915 can occur which would indicate a bearish market.
