EUR/USD breaks above trendline resistance, Buy opportunity?

After ten months of declining, at last, EUR/USD breaks above the trendline resistance.

After breaking above 1.1425, it confirms breaking out the downtrend. The last time EUR/USD attempted to break the trendline resistance, it failed. Instead, it created triple top resistance at 1.1380/1.1400 price. Now the triple becomes strong support.

Though fundamentally EUR is also under pressure for various reasons, technically, it started its uptrend. As EUR is fundamentally under pressure, I have little doubt whether EUR/USD will continue its uptrend.

This is true, and we can't ignore fundamental and technical both. However, the market and investors respect both analyses. As EUR/USD breaks and is stable above the long-term trendline resistance, it has created some room to go upside.

Our first target is 1.1530, and the final target to the upside is the 1.1670 price zone, and the stop-out should be below the 1.1260 area.