EUR/USD: The Trend Is Up

Published 01/23/2012, 09:35 PM
Updated 07/09/2023, 06:31 AM
EUR/USD: 1-Hour

For the past couple of the days, EUR/USD has been rallying strongly. That being said, I think it's safe to say that the pair's trend is up, which means going for long trades is a good idea. Looking at the 1-hour chart, we can see that the pair is currently on retracement mode as it makes its way to a former broken resistance. If you're bullish on the pair, this level could be a nice opportunity to buy at a cheaper level and ride the trend, especially since the level lines up nicely with the 38.2% Fibonacci retracement level.



<span class=EUR/USD 1-hour chart" title="EUR/USD 1-hour chart" width="925" height="525">

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