EURUSD UPDATED IDEA
Updated
Small update for my idea. Wanted to show you my view on this pair from bigger perspective. Since the start of 2021 EUR/USD is in wide downward channel, there was an attempt to break it from May 7th to May 12th, it happened to be false break out. Since yesterday, with help of local support at 1.206, this pair is trying to create an upward channel and finally breakout from long bearish trend. However, in case this pair breaks mentioned local support at 1.206 and psychological 1.20, I think we can reach 1.16 in long term. I will happily open some short positions on pullback after breaking 1.20, but for now, I think this pair is still bullish.
Note
We broke out descending channel, I have no interest for opening longs for this pair for now. I personally will wait until we will return to the channel and break at least local support at 1.206Note
This pair remains bullish. However, if we will brake the channel and respect the resistance, short position could be opened.
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