vlad.adrian

EURUSD - Prepared to go higher

Long
FX:EURUSD   Euro / U.S. Dollar
After breaking major resistance at 1.15, the Euro grinded lower to test that wide support area . Last week we had a clear rejection off it, and at the same time rejection off the 34 day EMA Wave. This is the futures chart I am using for the weekly, that shows reliable volume bars. Look at the condition of the Force Index , it is out of its channel, oversold in an uptrend; very very strong buying signal.

The daily chart shows a possible inverted H&S , after a failed break of the H&S top, which by itself is a very strong pattern that calls for higher prices.

I have my soft stop below this support area , and a target of 1.30.
Trade closed: target reached: Closed inches away from the swing high.

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