Euro/USD has created several bull flags in the last weeks and shows very strong bullishness. Because of the strength of the trend I think that the sideways correction is now over and we will hit the old high at 1.20 again, then a little bit sideways and then breakout with targets at 1.25 and more. This Idea can take half a year or so.
Trade active:
Trade active above Bulllflag with SL around 1.17
Trade active:
Already reached new high at 1.214 today, trade active with target 1.25.
Comment:
Already hitting 1,23, now little correction would be good to let the indicators cool down, then up again with the next move to 1,25. Trade idea works faster then expected :-)
Trade closed: target reached:
Target reached in just 5 weeks. Trade closed