EUR/USD is trading within an uptrend on the Daily chart. I've said in a previous analysis that we may see a reversal after the price has escaped from the major downward channel and after it has validated the breakout above the downtrend line.
So, EUR/USD could climb higher as long as it stays above the uptrend line. The breakout above the 1.1440 former high and above the 1.1500 psychological level, upside obstacle, has confirmed a further growth in the short term.
- Trading Recommendations on EUR/USD
A minor retreat/decline to retest the 1.1500 level could bring another buying opportunity. Also, a sideways movement right above the 1.1500 psychological level will announce another upside momentum, the first target is seen at the 1.1600 level.
The 1.1700 and the 1.1800 could be used as potential upside targets as well if EUR/USD continues to stay above the uptrend line.
