Facts:

• Main trend remains upward from the end of June
• The pair bounced off the key technical support near 1.1580

Recommendation: Trade: Long position on EURUSD at market price Target: 1.1677, 1.1745 Stop: 1.1535

Opinion: EURUSD has been trading in an upward trend recently. Looking at the D1 interval, one can see that the recent downward correction reached the key support, where buyers appeared twice .The area 1.1580 is marked with previous price reactions and lower limit of 1:1 structure. In addition the price sits above the 100-period moving average from the D1 interval. According to the classic technical analysis and Overbalance methodology, continuation of the upward move looks to be the base case scenario. We recommend going long EURUSD at market price with two targets: 1.1677 and 1.1745. We also recommend placing a stop loss order at 1.1535. Source: xStation5