In case of further growth, EUR / USD will head towards resistance levels 1.2180, 1.2340 (this year's highs). A more distant target is located at the resistance level 1.2580 (see "Fundamental Analysis and Recommendations")
In an alternative scenario and after the breakdown of the local support level 1.2056, EUR / USD will resume its decline deep into the descending channel on the daily chart.
Support levels: 1.2100, 1.2065, 1.2056, 1.1974, 1.1930, 1.1860, 1.1780, 1.1710, 1.1600, 1.1560
Resistance levels: 1.2180, 1.2270, 1.2340, 1.2555, 1.2580, 1.2600
Trading Recommendations
Sell Stop 1.2090. Stop-Loss 1.2155. Take-Profit 1.2065, 1.2056, 1.1974, 1.1930, 1.1860, 1.1780, 1.1710, 1.1600, 1.1560
Buy Stop 1.2155. Stop-Loss 1.2090. Take-Profit 1.2180, 1.2270, 1.2340, 1.2555, 1.2580, 1.2600
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**) EUR/USD: Current Fundamental Analysis and Market Expectations
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