EURUSD Bullish move triggered by Germany Factory Orders

EURUSD Bullish move triggered by Germany Factory Orders

Germany: Factory orders to rise by 1.1% in May.

Shortterm bullish move triggered by the data and the pair broke above 1.16800.

H4 Chart Timeframe: Pair jumped above MA 200. The next target is 1.17200.

Today US ISM Non-Manufacturing PMI will be announced. EURUSD is likely to test 1.17200 until the US data. A negative US Data may lead the price 1.17800, This level will be our short entry point, confirmed by both Daily EMA 50 and Bearish Gartley harmonic pattern.

A negative US PMI of today will push the pair back below 1.16800. We will look for a short opportunity at 1.17200 based on Bearish Butterfly and EMA 200 resistance.

We will publish our fresh trade idea for premium members. Right now, we focus on 1.17200.

We keep our midterm bearish position until the end of September.

Comment:

Harmonic View