FX:EURUSD Euro Fx/U.S. Dollar
E/U still sideway in a tight range between 1.1325- 1.1450 since March 31.
I could count 7 doji stars on the , E/U hold firmly on the support 1.1325
What does this mean ?. It means Euro is accumulating for a next move : A breakout definitely occurs in the near term and likely in this week.
Moreover, DMS system. ADX line (light blue light) reached 40 :the highest level since March 2015.
ADX could rally to next stage : 50 or 60 signals for a strong move EURUSD incoming.
1.1500 is a very strong resistance level . E/U is trade below this benchmark for 1 year and it only was broken one time but market immediately pulled E/U back below 1.1500
However, if E/U can't trade lower so it should move higher because two reasons:
- Market wants to punish FED for delaying to hike rate.
- Investors like Euro for safe asset, they are seeking for a safe shelter due to global slowdown.
I want to BUY EURUSD through 1.1500 year high to 1.2000 where Euro will find resistance there.
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