EUR/USD
I prefer adding long here, and the stop would be a close below 1.0690 on 15-minute chart.
Hourly Chart - inverted Head and Shoulder
I strongly see the pair reversing from around 1.0710 levels. In that case, an inverted head and shoulder could be formed with a neckline resistance 1.0770. A break above the same would expose 1.0840.
I do not see Draghi coming out with any new revelation about the fresh easing in December. He would maintain the policy would be reassessed in December.
So the trade is Long EUR/USD around 1.0710 target 1.0770-1.0840, stop loss (15-min closing below 1.0690)
I prefer adding long here, and the stop would be a close below 1.0690 on 15-minute chart.
Hourly Chart - inverted Head and Shoulder
I strongly see the pair reversing from around 1.0710 levels. In that case, an inverted head and shoulder could be formed with a neckline resistance 1.0770. A break above the same would expose 1.0840.
I do not see Draghi coming out with any new revelation about the fresh easing in December. He would maintain the policy would be reassessed in December.
So the trade is Long EUR/USD around 1.0710 target 1.0770-1.0840, stop loss (15-min closing below 1.0690)
Trade closed: target reached:
First Target reached.