TopGunForex

TopGunForex

As long as $EURUSD remains within the channel with out price-action having a major break-out (200 pips) and the technicals continue to support an upward move, then imo the long trade remains valid.

TopGunForex

As long as we don't have a major break out from the channel (200 pips) and the technicals for an upward move remains, imo the reasoning for going long stays valid.

TopGunForex

IMO, any small to medium size pull-back would be an entry into a long trade for both $EURUSD and $GBPUSD.

TopGunForex

New $EURUSD price-target 1.3338/1.3378. There's nothing as of yet that would suggest Euro is ready to turn-over and reverse this current trend. Today's high of 1.3253 tells me that 1.3289/1.3294 is practically a done deal sometime this wk, so higher we go imo. New price-target 1.3338/1.3378 (look for this move come next wk).

TopGunForex

As long as $GBPUSD continues to move up this will help $EURUSD climb to the 1.3289/1.3294 level. If $EURUSD for some (good) reason makes a run for a retest of 1.3415 over the next wk or two, then Euro stands a chance at 1.3705 before markets turn down again.

TopGunForex

A break outside the linear regression channel has happen three times with no sub stained break to the downside, at least not yet. It is my opinion that we get a break to the upside for a fourth time then fall back into the channel.

TopGunForex

The tight range for the last couple of days EURO has been in is due to Ben Bernanke speaking before Congress, imo there's no-way a big move will occur, in fact it occurred before his talks began July 10th and EURO will resume normal movement come Friday into next wk.

TopGunForex

Price has now broken out side the channel twice signaling a long trade for a break above 1.3131.

TopGunForex

$EURUSD 2hr Chart: Once resistance at 1.3131 is broken there's a strong possibility that $EURUSD will not only hit 1.3294 but could touch 1.3373/1.3415.