compleatguru

Some Reasons to long EURUSD to 1.36

Long
FX:EURUSD   Euro / U.S. Dollar
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1
The chart drawn speaks about my bullish-ness about EURUSD .
1. Price has expanded away from Lower Bound of Long Term Downtrend channel .

2. 1.27 seems about a vital support for this current breakout as it is a round level; near to 2012's open ( another vital psychological level); and a point of confluence where the "Near Term trendline" coincides with lower bound of Trend Channel)

3. Recent 1.27 breakout has resulted a wide trading range between 1.2747 and 1.3166. ( > 400 pips range - Good enough to sway or 'swipe' both bulls and bears)

With a theoretical 3.28% trade range now, if there is a bullish breakout, it may be challenging 1.36 as a possible measured move.

1.27 should not be challenged in order that this 'slow' bullishness can continue.

Comments

1.27 was breached.
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Agreed.
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