Hi,
Based on the 1H chart, we see a strong support is being tested at 1.2 for the pair as it tried to form a double top before. It could provide a resume for EURUSD uptrend if it bounces.
ECB has announced there is no policy change earlier today which contributed to the drop of the EUR. However, the drop was not supported by a good job report of US right afterwards which make the circumstances is quite 'unchanged' as the USD seems still in the mode of looking for catalyst.
Therefore, as EURUSD is actually still within its uptrend, I am going long on this one.
Happy Trading!
Based on the 1H chart, we see a strong support is being tested at 1.2 for the pair as it tried to form a double top before. It could provide a resume for EURUSD uptrend if it bounces.
ECB has announced there is no policy change earlier today which contributed to the drop of the EUR. However, the drop was not supported by a good job report of US right afterwards which make the circumstances is quite 'unchanged' as the USD seems still in the mode of looking for catalyst.
Therefore, as EURUSD is actually still within its uptrend, I am going long on this one.
Happy Trading!
Trade closed: target reached
