LONG EUR/USD For a Bounce back up to Re-test the high
Potential bounce in this channel , Small bounce in the US dollar near the end of fridays session made this pair pull back a little, and Thats fine because what do we do in a bullish market ? we buy the dips, and this could be a nice long entry on monday.
We can see EUR had one of its best months in a long time, and it mostly came from the EU fiscal stimulus deal, and now we can see the EUR turning into a safe haven you could say, Regardless it is showing very strong bullish outbreaks against the Greenback, and i think we can see a bounce to the upside monday as the US Dolla will sell of now we have a new monthly candle opening and some of the biggest net short positions on the US dolla we have seen in years. Look to take some profits in the Box i have shown on the chart as it could show some rejection
if you keep a runner going on this trade it is probably a good idea because the EUR could break 1.1900 this week Since it will most likely Re-test this high As the selling on the US dollar picks up
We can see EUR had one of its best months in a long time, and it mostly came from the EU fiscal stimulus deal, and now we can see the EUR turning into a safe haven you could say, Regardless it is showing very strong bullish outbreaks against the Greenback, and i think we can see a bounce to the upside monday as the US Dolla will sell of now we have a new monthly candle opening and some of the biggest net short positions on the US dolla we have seen in years. Look to take some profits in the Box i have shown on the chart as it could show some rejection
if you keep a runner going on this trade it is probably a good idea because the EUR could break 1.1900 this week Since it will most likely Re-test this high As the selling on the US dollar picks up