Since the middle of the month the currency pair has been in tight range, this is undoubtedly going to change next week with a number of medium/high volatility prints out of both the Eurozone and Japan. The Eurozone CPI on Monday and German unemployment figures on Tuesday are really going to set the tone for the rest of the week.
With the string of higher highs and both the RSI and CCI suggesting an upward trend I am favouring a long position with the 145 price my first target and my stop loss underneath the short term resistance at 138. If the price drops below this level it is my short scenario that I am then going to execute.
With the string of higher highs and both the RSI and CCI suggesting an upward trend I am favouring a long position with the 145 price my first target and my stop loss underneath the short term resistance at 138. If the price drops below this level it is my short scenario that I am then going to execute.