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EURYEN has scaled up from a low of 115 to a present 125. The bias is presently to long the Euro , with all daily MAV ;s reset in line ( since 8th July) .
Entry for a long could be on this present daily candle bar.
Targets are set for the longer term on the weekly chart.
The first target is
1. 1.27 - which is the next swing resistance ( and 1.27 fib extension of current move up)
2. 1.32 - the next swing move up ( an 1.618 fib extension) ###### the current focus target.
3. 1.37 - the swing high of 2018 ( not really considered presently)
The point of invalidation is sitting at 120 , the current swing low. The RR is conservative at 2....
A high risk stop is below 123..... would promote a high RR....
Entry for a long could be on this present daily candle bar.
Targets are set for the longer term on the weekly chart.
The first target is
1. 1.27 - which is the next swing resistance ( and 1.27 fib extension of current move up)
2. 1.32 - the next swing move up ( an 1.618 fib extension) ###### the current focus target.
3. 1.37 - the swing high of 2018 ( not really considered presently)
The point of invalidation is sitting at 120 , the current swing low. The RR is conservative at 2....
A high risk stop is below 123..... would promote a high RR....
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