Alright, EU has fallen to the trendline where the bulls and bears are fighting at the moment. However, Longs from these levels are excellent because the risk is minimal compared to the possible reward. Today Euro news and later on the USD news will move the price whichever direction market makers decide it goes.
If the bulls can capture the 61.8% fib zone, then the move is much likely to happen to upside. Stop-loss can be comfortably placed below the trendline (1.1200).
Safe trading!
If the bulls can capture the 61.8% fib zone, then the move is much likely to happen to upside. Stop-loss can be comfortably placed below the trendline (1.1200).
Safe trading!
Comment:
Euro CPI numbers were better than expected, so fundamentally Euro should be stronger from these levels. I am waiting for NY open to see the USD news.
Order cancelled:
Closed, looks too weak.