EURUSD - trading recommendation

EURUSD rebounded from support at 1.2650. The rising mood should be sustained in the coming weeks.

EURUSD  - Weekly chart

Breaking  the downtrend line and 1.2890 resistance opened the way toward 1.3085. However, if  the rate drops again below 1.2890 we should expect a consolidation in the range of 1.2650 - 1.2890.

EURUSD  - Daily chart

After reaching the 1.2975-2995 resistance area EURUSD drops sharply stopping at the 1.2885-1.2905 support zone. Then it moved upward and stopped at 1.2950. Breaking up this level should open the way towards 1.2995 and 1.3075 further.

But if the rate breaks down the uptrend line and support of 1.2885 I would expect a further fall till 1.2835 and then 1.2800.

EURUSD  - H4 chart

Trade recommendation: Buy after closing above 1.2950  Take profit levels: Target 1: 1.2995 Target 2: 1.3075 Sell after closing below 1.2885 Take profit levels: Target 1: 1.2835 Target 2: 1.2800