I like this fundamental situation surrounding the euro.
We have inflation inching up and talk is ramping up about rate hikes in the ecb.
On the other hand we have this conflict in the US politics that is weighing on the dollar.
In the last 2 days we made a simple corrective move from the 1.09 swing high.
A perfect situation in my view to buy this dip looking for the continuation to happen.
Technically we have a triangle breakout and now retest of the breakout spot.
Also take a look at the bold green line. Bulls were able to conquer it back and now we are also retesting it.
Blessings..
We have inflation inching up and talk is ramping up about rate hikes in the ecb.
On the other hand we have this conflict in the US politics that is weighing on the dollar.
In the last 2 days we made a simple corrective move from the 1.09 swing high.
A perfect situation in my view to buy this dip looking for the continuation to happen.
Technically we have a triangle breakout and now retest of the breakout spot.
Also take a look at the bold green line. Bulls were able to conquer it back and now we are also retesting it.
Blessings..
Note
Watch the bold blue line. If this is broken, there is a big chance that we see the trend resuming. In general the 0760 should hold we should not see market close below it on the hourly chart.Note
if bulls cant take back 0760 soon it starts to look ugly.0760 and 0800 are pivotal and bulls should retake this levels asap.
Note
I closed the previous position for a 20 pips loss.I am now reentering with a small stop of 11 pips, still looking for a big move higher.
Note
Looking at the DXY its correlativ with eurusd also sold this one with a very tight stop. Lower highs might be coming.
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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.