EUR/USD is a pair at the moment to get in. On my last analysis after US Data release, I was looking for a pull back to 1.23-1.24 as support before a return of the bulls. We're currently looking for Demand to reach 1.26-1.27. Thats just basic technicals.
Now, what's interesting here is the trend identified on the weekly timeframe, more specifically a support triangle which started in 2007 and was broken in 2014(wish I knew more about patterns and price action back then). Since that break, we experienced a weak euro which has been recovering and is now reaching the resistance of the support triangle..... Price will most likely break this resistance due to recent high global economic performance, but lets closely watch economic performance as it's a key moment in economic cycle with inflation and interest rates under the spotlight.
Now, what's interesting here is the trend identified on the weekly timeframe, more specifically a support triangle which started in 2007 and was broken in 2014(wish I knew more about patterns and price action back then). Since that break, we experienced a weak euro which has been recovering and is now reaching the resistance of the support triangle..... Price will most likely break this resistance due to recent high global economic performance, but lets closely watch economic performance as it's a key moment in economic cycle with inflation and interest rates under the spotlight.
Comment:
what a battle this week with this pair, the result is startng out great, lets get it.
