- February 2, 2022
- Posted by: cabana-admin
- Category: Market Insights
EUR/USD treats the high above the 1.1277 level in the market. The bulls are favoring the multi day high in the market . The major currency is heading towards the buy side in the market and the pair headed towards the north direction in the market. The ascending channel pattern trend formation is established on the market. The short term channel pattern is established in the market. The pair is headed towards the buying side in the market. The bulls are favoring the buy side in the market. The major 200 SMA and 50 EMA pushing the market towards the high side in the market. On the hourly chart the bullish trend in being formed in the market. The upside rally pattern formed in the market . The bulls are aggressively following the uptrend in the market.
The near term picture is bullish and 200 SMA is providing the flat support to the market , the technical indicators are providing the positive levels in the market and directional positive strength we are getting from the market .
Trade Idea: Buy at current level 1.1277, Tp 1.1350 followed by another resistance level 1.1400. Stop loss will be sl 1.1200.