Onward and Upward for EUR/USD
With the Fed continuing to keep interest rates low I believe the Euro will continue to gain value. We've been decelerating on the daily chart for 6 weeks now after a nice run up but haven't seen much bearish momentum to get much of a pullback. This looks like more of a short breather before the next leg up.
I have a zone on the monthly chart between 1.175 and 1.22 and the rejection of this level again made me look at the intraday for a potential reversal entry.
Technical trade of a breakout of structure on the 1hr chart with a retest of the 1 hour 50EMA and 382 fib.
Stop is placed behind the 618 retracement. I currently have no limit set on this but a soft target at 1.20 and a secondary target at 1.22
I have a zone on the monthly chart between 1.175 and 1.22 and the rejection of this level again made me look at the intraday for a potential reversal entry.
Technical trade of a breakout of structure on the 1hr chart with a retest of the 1 hour 50EMA and 382 fib.
Stop is placed behind the 618 retracement. I currently have no limit set on this but a soft target at 1.20 and a secondary target at 1.22
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