Technical Outlook and Chart Setups:
As depicted above, the single currency is still trading between 1.5130/50 and 1.5250 levels. After some sideways movement, bulls are expected to break higher past the 1.5250 level. At the moment, backside of trend line is providing intermediary resistance. Overall chart setup is still constructive for bullish breakout. 1.5000 level, which is acting as immediate swing support, must be valid now, any pullbacks should be capped above this level for bulls to continue rallying further up; intraday setbacks towards 1.51 should be used to enter long positions again. Another resistance shall be met at 1.5300 level.
Trading Recommendations:
Re-enter buying between 1.5100 - 1.5150 levels, stop at 1.50, target open.
Good Luck!
