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EUR/USD - Rejection from long term confluence

FX:EURUSD   Euro Fx/U.S. Dollar
319 3 9
Just over a month ago I posted about EUR/USD             approaching long term confluence with the ascending and descending trend lines crossing over. This month we have seen a strong re-bound at this area due to poor data out of the US and technical reasons behind the chart.

I still believe we are heading towards 1.2000 where we should see some strong rejection. From this point on I will be looking for long positions up to 1.2000 where I will have pending orders around that area for a short sell.

This is a long term outlook so continue to trend what you see on the shorter time frames. This has been an interesting time for a lot of Dollar pairs and the weakness from the US has given rise to various potential reversals across the board.
Agree with you completely.
+1 Reply
I share your sentiments on the pair 100%. Good job!
+1 Reply
Thanks Noel!
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