ReeceDFX

EURUSD Long Bias

Long
FX:EURUSD   Euro / U.S. Dollar
After monitoring the the decline in EUR strength over the last few weeks, it now looks like the bulls could be setting themselves to re enter the market.

Daily ascending trendline/support has been met with a healthy Daily candle closure; if we move into the 4Hr chart you can a bullish engulfing candle from our trendline/Fib level past our intraday key zone which is hinting to me that buyers have entered the market.

At the time of writing this, we are getting a slight pullback where i am expecting EUR to drive this pair a possible 60 pips which will also fulfil our 0.618 Fib Retracement.