DanV
Long

EURUSD - Continue with General Bullish bias

FX:EURUSD   Euro Fx/U.S. Dollar
994 5 8
From my previous chart on EURUSD             you will note that whilst it has been confusing and experience normal or on occasions little deeper than anticipated pull backs along the way, I am remaining bullish on EURUSD             from longer term perspective. I am using my longer term analysis of the Dollar Index             fort this bias. If I am wrong on my analysis of Dollar Index             then I will need to re-evaluate the whole analysis. However, it seem to beholding to my view for now.

I suggest you check my Dollar Index             chart for the details of my view on DXY             . Here is the link -
Dollar Index - BEARISH, Potential top could be in place


Also note the Correlated chart snapshot of EURUSD             and Dollar Index             below.

Therefore, the April Low in EUR I feel is significant and should hold. If so then the upon completing the retracement of the last move up which could find a potential bottom around 1.2850 or 1.28, any more then I will need to reconsider. If 1.2850 -1.28 hold then we could expect fairly strong move to the upside.

This means that for the coming week we will drift lower to form that bottom, before continuing with the uptrend. The upside should at least lead to retesting the 1.37 high and could continue higher.
DanV MOD
3 years ago
Here is the Correlated chart referred to above
snapshot
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DanV MOD
3 years ago
Closer look on the Hourly
snapshot
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InvestinFX.com
3 years ago
We are going to test 1.2750 1.2800 and if they hold then yes I agree with you we could go up. Follow me at http://www.investinfx.com
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ForexPic.com
3 years ago
Good analysis :)
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