Good morning traders,
My today’s trading sis based on a broader view on EURUSD I’ve mentioned yesterday. The pair sits presently at 1.2735, the area when moving averages on smaller timeframes (5min, 15 min) cross and I expect it to reach higher levels: 1.2825 (weekly R1 pivot point), 1.2850 (current value of resistance line on 1H chart). I recognize 1.2765 and 1.2795 as the closest targets above.
Speaking about downside risks, I pay attention to the following levels: 1.2720 (5min support line and 1H MA); 1.2695 (15min trendline and daily pivot). If we close below it, it’s more likely the described won’t be intact.