EUR/USD retested the uptrend line signaling further increase ahead. It has declined a little after reaching the 1.2300 psychological level, but the uptrend remains intact, so the price could hit new highs.
Jumping and stabilizing above the former high of 1.2310 validates more gains. This scenario indicates a further increase towards the 1.2400 psychological level. The upwards swing should resume as long EUR/USD is traded above the uptrend line.
Only dropping and stabilizing below the uptrend line could signal that the upside movement is finished and that a corrective phase, decline, could develop.
EUR/USD Trading Tips
Buy EUR/USD if the rate jumps above the 1.2310 level. The next upside target is seen at the 1.24 psychological level.
