Euro wrapped up Thursday and Friday, with both days finishing up at less than 1 pip each. However, that is not to say there was no range, but definitely low activity. We saw Tuesday drop down -45 pips before a sharp rally to close at just about break-even for the day (+0.04%.) This move on Tuesday for a Bullish Low Test candle pattern. We have not revised our outlook to the upside. With Weekly and daily Falling Wedge Pattern along with the Daily Bullish low test candle we are confident that we will see a rise in the Euro against the US Dollar.
We are still holding our bias to the upside. We could see additional consolidation for a day or two before a rally to the top of the Daily Bull Flag. Watch for what the Euro will do against the USD at 1.1100 to 1.1150 range.
THE PLAY: Buy play upwards to the Daily Bull Flag top (look for intraday pattern setup)
We are still holding our bias to the upside. We could see additional consolidation for a day or two before a rally to the top of the Daily Bull Flag. Watch for what the Euro will do against the USD at 1.1100 to 1.1150 range.
THE PLAY: Buy play upwards to the Daily Bull Flag top (look for intraday pattern setup)