EURUSD: ⬆️ Buy
– EURUSD reversed from key support level 1.1120
– Likely to rise to resistance level 1.1260
EURUSD currency pair recently reversed up from the support zone between the key support level 1.1120 (which stopped the previous impulse wave (1) in the middle of October), the lower daily Bollinger Band and the support trendline of the daily down channel from April.
The upward reversal from this support zone stopped the previous short-term downward impulse from the top of wave (2).
Given the strength of the support level 1.1120 and the bullish divergence on the daily Stochastic oscillator, EURUSD currency pair can be expected to rise further toward the next resistance level 1.1260 – which stopped wave (2) in the middle of October.