Hey, everyone! Happy Tuesday and welcome on our EURUSD analysis for today. The price is consolidating at the moment and we are expecting for it to break out to the upside and reach the 1.2 price zone. We have set our target at that area for the following reasons.
Firstly, we can clearly observe that the identified target is a powerful area of resistance once acted as a zone of support. Secondly, the 0.382 Fibonacci retardement level coincides with that powerful structure. Last but not least, 1.20000 is a very important psychological area, meaning that a lot of traders are aiming for that mark
Feel free to share your thoughts and idea in the comment section below, family! Have an awesome week ahead