DollarsNSense

SLOW DOWN, YOU MOVE TOO FAST

Long
OANDA:EURUSD   Euro / U.S. Dollar
well the pullback simply didn't happen yesterday, preventing any entry on EUR/USD . Not that uncommon when one team (Bulls in this case) gets a sniff after a run against them and certainly, they HAVE a sniff. Now 270 pips strong, this momentum shift (read potential reversal), is looking serious. That said, the confluence of 1.1600 and Resistance Trendline seemed to have an effect late in US Session yesterday and retracement today, looks a decent prospect. I'm hopeful that with it, comes the formation of a significant Higher Low, from which I can find a Long entry with an upside target of 1.1705 and 1.1795 in extension. I suspect however, deeper retracement to 1.1500 might be a more likely scenario. Either way, a Higher Low still tweaks my interest.

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