DollarsNSense

LET'S TRY THAT AGAIN

Long
OANDA:EURUSD   Euro / U.S. Dollar
If you're an Asia Session trader, you could well be Long EUR/USD already today, after a very nice test of 1.1540. This level represents the bottom of the range the pair has traded in since May. Save of course, the breakout Short that occurred earlier this month. I see this as a very nice level for the Bulls to assert their intentions and drive the pair back towards 1.1700. The alternate case for Shorts here is equally compelling as the primary Short Trendline is yet to yield to the Bulls. It should make for an interesting UK Session. My bias is with the Bulls - at least to 1.1590, where the the trendline should once again, be tested. That trade, should it set up will just about do me unless the trendline breaks. THAT, will attract my attention. Have a great weekend.

Comments

Consolidation between 1.1550 and 1.1570 before moving up :)
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