EURUSD Double Bullish Divergence
The price bounced from 1.17000 support level. Double bullish divergence gives a trend reversal signal. RSI confirmed price reversal from the support level. MACD supports upward movement. DMI allows opening long trades. Also the daily chart confirms upward movement. We have buy opportunity. Buy orders should be placed above SMA50 at 1.17575 level and stop orders below the local swing low at 1.16670 level. The main profit target is 1.18500 and 1.20000 level as the 2nd target if the price can break the downtrend line.
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