Keep an eye on the EURUSD Daily closes this week - as we've had good luck buying EURUSD last couple of weeks - it looks yet again to be ready to move higher, pending commitment to the move.
I've outlined the key adaptive technical levels I'm currently looking at, if the 1.1350 area can be confirmed to be broken on the daily close - I'll look for consolidation and to buy on the retest to move higher into the 1.14-1.15 area.
Profit should be locked after the initial surge if the buying opportunity is generated. The price action as of late for the EURUSD pair if this buy occurs will give EURUSD time to retrace and more than likely supply a 2nd buying opportunity at the same level. The 1.14-1.15 area is where the last major drop started from it is a bit logical that price will not surge through this entire area.
Feel Free to Comment/Like/Follow.
An Important Note - XXX/USD pairs are almost all primed for moves higher - however, the way the higher time frames look on almost all of these pairs, does not ring to me (with the exception of GBPUSD . They are breaking Strength Lines on the Weekly and Daily but they are keeping the structure necessary to move lower intact. I'm not sure what to make of this yet - for the near term - let's continue to follow the market in the direction it is trading. I'm speaking about the Weekly and Monthly time frames here. You're more than welcome to add your input in the comments below,