EURUSD Sets Sights on 1.2500 Following Breakout

EURUSD broke out of its four-month range yesterday with conviction. I’ve discussed the potential for a move higher from the euro several times on this website, including last Friday. I also went long the EURUSD late last week, as I mentioned to Daily Price Action members. So far, that trade is up about 170 pips. In addition to the daily time frame, which we’ll get to momentarily, the monthly EURUSD chart looks increasingly bullish. The July breakout is something I’ve discussed at length. I’ve also said that as long as EURUSD is above the 1.1450 support area on a monthly closing basis, that I like the pair … (full story)

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