has been my ultimate favorite pair to monitor and trade for the past several weeks. As illustrated on the chart, the impulsive - correction structural move on this pair, coupled with the fundamental side of the equation with a bullish
ECB talking about ending the QE
and a retracing DXY
has attracted a lot of traders to this pair. I will be monitoring this pair and this week's close, looking for a strong weekly close above the weekly structure. That will open the room for the upside on Euro
. Having said that, DXY
is getting close to a maji\or support area
. Will sit tight and watch the price action. Cheers!