EURUSD strong uptrend, weakening of USD
Updated
EURUSD still bullish.
Bought in at 1.17920 on Friday (11 August 2017) with the intention to hold for awhile. It broke a major holding point few weeks earlier and now the 20 EMA seems to provide a good support.
Analysis points:
1. Support from 20 EMA
2. 2 candlestick signalling buyers at 1.17100
3. The weakening of USD continues in 2017.
4. Continuation of trend after correction
There is a resistance up ahead at 1.18650 range if it passes that we have a lot of room upwards to 1.20000.
Bought in at 1.17920 on Friday (11 August 2017) with the intention to hold for awhile. It broke a major holding point few weeks earlier and now the 20 EMA seems to provide a good support.
Analysis points:
1. Support from 20 EMA
2. 2 candlestick signalling buyers at 1.17100
3. The weakening of USD continues in 2017.
4. Continuation of trend after correction
There is a resistance up ahead at 1.18650 range if it passes that we have a lot of room upwards to 1.20000.
Trade closed: target reached
Target reached. Got out a bit early I feel, I believe there is more strength to the EUR against the USD.
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