Wednesday, July 26, 2023
EUR/USD 1.1082 obstacle Ignored
The EUR/USD pair is trading at 1.1088 at the time of writing. As you can see on the h1 chart, the rate jumped above the downtrend line which represented an upside obstacle, indicating that the downside movement ended and that the buyers could take the lead.
Breaking above the downtrend line announced a potential upside reversal. The 1.1082 represented an upside obstacle as well. Jumping above it validates further growth.
EUR/USD trading conclusion
Passing above 1.1082 activates an upside continuation in the short term. This is seen as a buying opportunity.
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