Confirmations on the 8hr and are needed in order to enter the market. The moving averages are crossed over to the upside and continuing to provide dynamic support for the Euro .
Great risk/reward ratio of 1:1.87 once all technical factors fall into place.
Now we're currently being supported by the 124.000 monthly support region but if we look carefully from the 15th Jan onwards the market has been discreetly printing H.H's and H.L's indicating that we price may attempt a 4th drive into the 124.750 region with a view to break. Of course should we slip below the 124.000 monthly region we can revisit the range-lows currently sitting at 123.50.
Trade cancelled... For now.