Daily chart of the EU v DOLLAR
Upside for the foreseeable future and i mean until we hover at around 1.260s as i talked about on the Monthly chart displaying the overall BIAS for EURUSD.. but we have to acknowledge this major resistance level that is in our way on the Daily, we may stumble reaching it if we do not close above the previous high by the close of tomorrows trading session it is likely we will follow a minor channel correction upon market open on Monday.. so a good short term sell real quick there as we will retrace to the 1.1080 level if we are unsuccessful at closing above the previous high. if we are considerably bullish starting the weekend then assess your positions moving forward long, i would place a purchase order for x lots @ 1.13600 with a SL of 1.11000 and a reminder @ 1.17000 to assess whether i increase/decrease my position size.
Upside for the foreseeable future and i mean until we hover at around 1.260s as i talked about on the Monthly chart displaying the overall BIAS for EURUSD.. but we have to acknowledge this major resistance level that is in our way on the Daily, we may stumble reaching it if we do not close above the previous high by the close of tomorrows trading session it is likely we will follow a minor channel correction upon market open on Monday.. so a good short term sell real quick there as we will retrace to the 1.1080 level if we are unsuccessful at closing above the previous high. if we are considerably bullish starting the weekend then assess your positions moving forward long, i would place a purchase order for x lots @ 1.13600 with a SL of 1.11000 and a reminder @ 1.17000 to assess whether i increase/decrease my position size.