EURUSD has been stuck in an uptrend since the dawn of time however, we have finally seen that channel broken and there's a potential for more downside in the future.
As of the moment i can see EURUSD rising to 1.12 region and quite possibly up to test the channel again at the 1.155 - 1.16 zone.
Obviously this needs to be reactive and not predictive.
With the CPI for USD also giving us a negative for the Dollar and NFP going against its Fundamentals and hyping price the opposite direction... I'd be surprised if we dropped before 1.12
If we see failure to break any of the resistance zones and a decent SELL confirmation comes our way then we should initiate a SHORT. But I'm aiming for 1.12 before considering that.
LETS GO LONG Until proven otherwise.
As of the moment i can see EURUSD rising to 1.12 region and quite possibly up to test the channel again at the 1.155 - 1.16 zone.
Obviously this needs to be reactive and not predictive.
With the CPI for USD also giving us a negative for the Dollar and NFP going against its Fundamentals and hyping price the opposite direction... I'd be surprised if we dropped before 1.12
If we see failure to break any of the resistance zones and a decent SELL confirmation comes our way then we should initiate a SHORT. But I'm aiming for 1.12 before considering that.
LETS GO LONG Until proven otherwise.
Trade closed: target reached
Long trade hit TP zone 1So will close this trade for a win
Will it continue and break this area? Or will we have a sharp rejection back downwards? Lets wait for a breakout and retest and then enter with a long or short!
Note
Still no clear indication on continuation or further Fall... Wait for the breakout to find a setup!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.