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Eurusdidea

EurUsd- Pressure is lifted, 103 is very probable nowAs I've written yesterday and on the 6Th of September, EurUsd seems ready for a correction. Yesterday has been a volatile day for EurUsd which went above and under parity and finished the day with a Doji. Looking at the 4h posted chart we can see that after an initial rise above parity, the pair fell strongly but found strong bids in 0.9930 and reversed strongly overnight, putting in a higher low on our chart. At this moment EurUsd is trading just under the recent range's resistance and a break un seems very likely. In such an instance I expect the pair to accelerate its gains and rise to 1.03 zone resistance. I expect parity to remain intact for the time being and dips should be bought in search of a good R: R considering a stop loss under yesterday's low and a target in mentioned resistance. Best of luck! Mihai Iacob My Yesterday's analysis:
Long
by Mihai_Iacob
4
Will EurUsd reconquer parity?Two days ago I wrote that even if the long-term trend remains short, EurUsd may have found a bottom and a correction becomes very likely. Yesterday, after yet another drop under 0.99, EurUsd has strongly recovered and now is trading slightly under parity. Considering the lack of power from the bears to clearly break support we can expect a reversal and a daily close above parity would confirm 0.9880 as a bottom (at least for now) This correction could have 1.03 as the target and 1.01 as interim resistance
Long
by Mihai_Iacob
9