After taking profits on our previous EURUSD short, the pair has rebounded off of resistance.
It carved a new low and now we can look to the upside in the mid to long term.
Buy on dips, with a long term target of 1.165xx to 1.17xxx.
Additionally, DXY has rebounded off of recent local highs as well, and is currently in a minor downward trend. This dollar weakness should serve to push EURUSD upwards.
Some things to watch out for are the European inflation data tonight, as well as Italy's bonds and spending situation.
Turkey and Germany are also key players to watch for in my opinion. I know Turkey has been out of the news lately and they've recovered a bit, but their economy is still fundamentally very poor.
-Osbetel
It carved a new low and now we can look to the upside in the mid to long term.
Buy on dips, with a long term target of 1.165xx to 1.17xxx.
Additionally, DXY has rebounded off of recent local highs as well, and is currently in a minor downward trend. This dollar weakness should serve to push EURUSD upwards.
Some things to watch out for are the European inflation data tonight, as well as Italy's bonds and spending situation.
Turkey and Germany are also key players to watch for in my opinion. I know Turkey has been out of the news lately and they've recovered a bit, but their economy is still fundamentally very poor.
-Osbetel