david.cummins.581
Long

Euro taking a breather before it continues

FX:EURUSD   Euro Fx/U.S. Dollar
It looks here to me that the EUR rally is taking a few backward steps however my overall long term view for the pair is still a bullish one. Im expected for the price to reach the key levels of support at 1.106, however it is also very likely that the price wont get to these levels before rebounding back above its previous high at 1.138. Our ADX is also showing us that the upward bull trend is starting to gain a bit of momentum as well. So my prediction here is for a short term move to be down but not below our key support then to rally back up again above its previous highs. My price target is resistance at 1.153. My stop is set at 1.102 just below support. My longer term price target is set at 1.25. However i would not buy this pair at it's current price. Im waiting for candle confirmation which in the best case scenario will come with a hammer bouncing off support. I also warn you to be care as it can be dangerous trading around the NFP.
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