This is our view on the pair for following week(s).
EUR was underperforming on dovish Draghi comments, but Dollar is suffering because of trade wars.
From the beginning of the year we saw couple of those correctional trend lines (and if you scroll back through the chart you will see all of them) and after they got broken we saw nice push up towards new highs.
Currently we see double bottom on H1 chart and another correctional trend line. In case it gets broken one more time we will enter 2 long positions.
Entry : Break of the trend line around 1.2312
TP 1 : Around RED resistance line - 1.238
TP 2 : 1.25
In case 1.238 gets broken strongly as well, we will consider one more long position to 1.25 zone.
Keep in mind that FED is set to raise interest rates this week and that this might spoil the plan, but we'll stick to it for now and be flexible as well :)
Good Luck!
EUR was underperforming on dovish Draghi comments, but Dollar is suffering because of trade wars.
From the beginning of the year we saw couple of those correctional trend lines (and if you scroll back through the chart you will see all of them) and after they got broken we saw nice push up towards new highs.
Currently we see double bottom on H1 chart and another correctional trend line. In case it gets broken one more time we will enter 2 long positions.
Entry : Break of the trend line around 1.2312
TP 1 : Around RED resistance line - 1.238
TP 2 : 1.25
In case 1.238 gets broken strongly as well, we will consider one more long position to 1.25 zone.
Keep in mind that FED is set to raise interest rates this week and that this might spoil the plan, but we'll stick to it for now and be flexible as well :)
Good Luck!