glennhowell

EURUSD | 1.1100 presents opportunity

FX:EURUSD   Euro / U.S. Dollar
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On Friday we saw price blast through the 1.1100 level, clearing out the highs it has established during the week and closing strong.
Long from here?

The 1.1100 level is key for me. Any close below this zone would be a bad sign for the bulls, suggesting continued downside.
However, price is holding above 1.1100 at the time of writing. It hasn't bounced yet - no - in fact another retest of 1.1100 seems likely.
How price behaves, should we get this second retest, tells us a lot about the expected short term future of the shared currency.
Trade closed: target reached

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