After clearing ECB a similar correction in play for EURMXN...
Here we have a similar environment to that of EURZAR. The bullish reversal yesterday is implying that the reversal is corrective in nature and will bounce towards resistance at 21.7.
The breakout if very tradable if you are not already holding positions, and stops can be kept tight above the 21.073 to sustain the confidence in the reversal formation.
To the topside, a break of 21.7 will imply the base is more material and here to stay for the longer term. In simply words, time to swing the bat as we have all ducks aligned for a major reversal cooking in Euro.
All the best and good luck those trading the aftermath of ECB.
The breakout if very tradable if you are not already holding positions, and stops can be kept tight above the 21.073 to sustain the confidence in the reversal formation.
To the topside, a break of 21.7 will imply the base is more material and here to stay for the longer term. In simply words, time to swing the bat as we have all ducks aligned for a major reversal cooking in Euro.
All the best and good luck those trading the aftermath of ECB.
Trade closed: target reached:
Well done all those who caught this one, a flawless breakout.
