Euro now approaching a daily key area of 1.1950 from where the price has had strong rejections before. So now expecting to see the same thing happening. US economy seems to be finding its feet and indexes are at their all time highs, all this indicating a strong US economy.
Dollar has been in a heavy ascent for some time now and the current retracement may find its end soon.
Expecting euro to reject the 1.1950 area. Targeting the previous daily support area from Sept-Oct 2020
a conservative point would be to wait for the 4h trendline to break and check for change in momentum once price has broken the trendline and retraced, as a retest of the 1.193 area is possible. This would give a better confluence and probably a better risk reward setup.
Dollar has been in a heavy ascent for some time now and the current retracement may find its end soon.
Expecting euro to reject the 1.1950 area. Targeting the previous daily support area from Sept-Oct 2020
a conservative point would be to wait for the 4h trendline to break and check for change in momentum once price has broken the trendline and retraced, as a retest of the 1.193 area is possible. This would give a better confluence and probably a better risk reward setup.