Hi guys, I mentioned last weekend that the EURUSD would have a choppy drop after last Friday's push. I didn't expect it to be quite this choppy, but there ya have it. We have a pretty clean channel on the 1 hour interval.
Longer term, this pair is looking more and more bullish. Not what I would expect, but the charts seem to confirm a bullish build-up for the EURUSD. That said. if we get a nice news push to the downside, we can enter long. I have 2 plans:
A. Wait for a break (confirmed break) above the channel and go long. 1.0800 is in sight if we go long, but it will take a week or longer to get there.
B. If we get a 'non-technical' push near the bottom of the channel, I'll go long. This would be ideal, but we'll see if it happens.
The long term barometer shows a nice double bounce off of the 50 level. The EUR should make another strong push near 80.
This is not investment advice, just my opinion(s). Please trade accordingly.
Trade safe and keep an eye on news.
Longer term, this pair is looking more and more bullish. Not what I would expect, but the charts seem to confirm a bullish build-up for the EURUSD. That said. if we get a nice news push to the downside, we can enter long. I have 2 plans:
A. Wait for a break (confirmed break) above the channel and go long. 1.0800 is in sight if we go long, but it will take a week or longer to get there.
B. If we get a 'non-technical' push near the bottom of the channel, I'll go long. This would be ideal, but we'll see if it happens.
The long term barometer shows a nice double bounce off of the 50 level. The EUR should make another strong push near 80.
This is not investment advice, just my opinion(s). Please trade accordingly.
Trade safe and keep an eye on news.
