The EURUSD finally reached an interesting point on Friday EOB.
Price broke the bullish trendline but did not follow through. Price ended the trading week with a close just below the trendline and with a bearish Pinbar on the 15-minute chart.
Next week will be interesting to see if the EUR can continue its bullish movement or if this is a lasting break of the trendline.
The fundamentals are on the side for the US dollar, with strong economic data for the last 5-6 months! The European situation, in contrast, is chaotic with political uncertainty with the major political parties in Germany and still high unemployment in the southern European countries.
Price broke the bullish trendline but did not follow through. Price ended the trading week with a close just below the trendline and with a bearish Pinbar on the 15-minute chart.
Next week will be interesting to see if the EUR can continue its bullish movement or if this is a lasting break of the trendline.
The fundamentals are on the side for the US dollar, with strong economic data for the last 5-6 months! The European situation, in contrast, is chaotic with political uncertainty with the major political parties in Germany and still high unemployment in the southern European countries.
Trade active:
Looks like it will hold the trendline. Entered EURUSD @ 1.22711, with a tight stop loss below last major low.
We will see if this trendline holds or if the bears turn things around this time.
We will see if this trendline holds or if the bears turn things around this time.
Comment:
First soft target will be around 1,236 (50% retracement of down movement to trendline).
Trade closed: stop reached:
Trailing Stoploss hit and exited for a nice profit! Lets see how EURUSD will move next.
Comment:
Exit was at 1,23405. Nice profit over the entry at 1,27711.