EURUSD – Daily Forex Technicals by ForexHound.com

We spotted a potential long entry on EurUSd this morning on the smaller timeframes. Long at 1.5860 stop at 1.5835 projected target at 1.5935. The pair formed an interesting pattern this morning, after bouncing from the support offered by a downsloping trendline it moved 100 points higher in two symetric steps at first from 1.579 to 1.5840 and then from 1.5830 to 1.5890. We have a projected target on this bullish flag formation at 1.5930, at that level there is also a trendline connecting Thursday and Friday’s top of 1.5983 and 1.5955 respectively.

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