EURUSD has been ranging between 1.1550 and 1.0305 since January 2015 (check out the weekly chart). Highlighted in red boxes are the key areas of (my) interest where I see price moving in the coming weeks/months.
ECB's Mario Draghi hinted recently that the Eurozone's economy was possibly now strong enough to consider raising the key interest rate, from its zero floor and also reducing or ending the stimulus programme. ECB has been purchasing assets to the tune of around €60b a month. Investors and currency speculators took this as an opportunity to bid up the euro.
I would go long up to weekly resistance at 1.1550 which seems to coincide with the extended Fib 2.618-level.
ECB's Mario Draghi hinted recently that the Eurozone's economy was possibly now strong enough to consider raising the key interest rate, from its zero floor and also reducing or ending the stimulus programme. ECB has been purchasing assets to the tune of around €60b a month. Investors and currency speculators took this as an opportunity to bid up the euro.
I would go long up to weekly resistance at 1.1550 which seems to coincide with the extended Fib 2.618-level.
Comment:
No sign of a pullback. If it goes further up without retracing, I'll scratch this plan and start over.
Comment:
Order cancelled