Dear traders, EUR/USD has finally broken through the 1.0780 resistance
level that I have been talking about in my previous ideas.
Also note that price has broken and settled above the dynamic resistance
in the 4Hour chart. So, the confluence of these two factors give us a
bullish bias in EURUSD.
That being said, we have US CPI data in a few hours which might lead to
volatility in EUR/USD. So, I do not recommend any fresh positions in EUR/USD.
However, if price does fall below 1.07 again, I would consider that a buying
opportunity as long as the support stays intact with my initial target at 1.0972.
level that I have been talking about in my previous ideas.
Also note that price has broken and settled above the dynamic resistance
in the 4Hour chart. So, the confluence of these two factors give us a
bullish bias in EURUSD.
That being said, we have US CPI data in a few hours which might lead to
volatility in EUR/USD. So, I do not recommend any fresh positions in EUR/USD.
However, if price does fall below 1.07 again, I would consider that a buying
opportunity as long as the support stays intact with my initial target at 1.0972.
Comment:
EURUSD has spiked after us cpi data, however be careful as the spike may be short lived
Comment:
Be careful about going long at this level because of the spike
Trade closed: target reached:
Price has reached my target level
