Attached is the 1H chart of EURUSD. It shows the strong support at 1.3123 which has been supporting the price for the past few hours. The small bars which bounced off the support should have shown that there was some accumulation taking place. On cue, EU has moved up and is at a resistance right now as it is close to one of the highs. It should break through 1.3160 for more upside.
On the upside, 1.3160 should be first resistance and if that is broken, then there should be another strong resistance at 1.3185. This price region should be a strong resistance as it is a SR at higher TFs as well. If and when this is broken, then the next upside target should be 1.3250 which should be achieved easily if 1.3185 is broken.
On the downside, the first target would be 1.3123 which should serve as a very strong support followed by another strong support at 1.3060.
I believe that EU will continue its upward move after some retracement towards support at 1.3123.
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