EUR/USD Breakout Above The Resistance Level

Analyst, Full-Time Trader • Dec 29, 2020 at 7:58 AM EST

The EUR/USD is bullish and a breakout higher is expected. We see a flat top ascending triangle and a potential breakout is expected higher.

1.2257 is the resistance level. We should see the breakout and the price will go higher. However, if the price drops to POC we might see fresh buyers. Positional trades come around 1.2200-10 while breakout trades happen above 1.2260. Targets are 1.2274, 1.2289, and 1.2332.

Break below 1.2196 should target lower levels 1.2170 and 1.2150.

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