EURUSD Chart Technical Outlook bulls continue to focus on 1.0988
EUR/USD – the four-hour chart highlights the major currency pair breaking out of a flag formation to the upside. The reverse trend line support of 1.0867 was tested yesterday. The measure move formation is located at 1.0988. Bespoke support is located at 1.0861.
Conclusion: we have mixed intraday signals:
- Buying at 1.0867 (reverse trend line), with a stop of 1.0833 (below bespoke) and a target of 1.0988 (measured move), offers a risk-reward factor of 3.43R.
- Selling at 1.0988 (measured move), with a stop loss of 1.1038 and a target of 1.0861 (bespoke), offers a risk-reward factor of 2.54R.
