The Euro tested the local maximum and after a creation of the new resistance 1.1870 the price fell down quite sharp. But even despite such a fall, we should note that the growth of the price was on large volume, while the correction of the pair down was on small one. Besides it, the price came out form the consolidation earlier last week, which is a good bullish momentum. That’s why it is worth considering the scenario of the breakout of the resistance and opening long positions.The breakout move should be abrupt and supported by large volume in order to avoid fake breakout and to get an accurate entry point. A stop loss should be placed below the breakout volume bar. A potential of the deal is up to 110 points.
The bottom line: long positions after a sure breakout of the resistance