Similary to the aussie dollar, the euro dollar is gaining against the us dollar because of the Biden's infrastructure bill which favours risk on assets. We should see more upside for the pair here but a short term relief selloff to the downside may happen before price could rally higher.
BULL CASE
If price shoots up from here without hesitation, we will target 1.20 for our exits.
BEAR CASE
The bulls may wanna sleep a little before pushing the price much higher. If that's the case, we will spread out our entries into 2 bullets. One will be fired off at 1.182 and the other will be used at 1.18. We will not short this pair for this month.
BULL CASE
If price shoots up from here without hesitation, we will target 1.20 for our exits.
BEAR CASE
The bulls may wanna sleep a little before pushing the price much higher. If that's the case, we will spread out our entries into 2 bullets. One will be fired off at 1.182 and the other will be used at 1.18. We will not short this pair for this month.