EURUSD traded above 1.2300 today. Will it continue to go up?
EURSUD has traded above 1.2300 on 17 Jan 2018 and at the time of writing this forecasting report, EURUSD is trading at 1.2240 level.
Investors like you may be wondering this pair's movement in the following week. From a technical outlook, this pair had been in an uptrend since the swing low on 12 December 2017 at 1.1718.
Based on our forecast, if the bullish momentum continues, we could potentially see this pair to test 1.2380 as our first target and if this level is taken out, we could also potentially see this pair to test 1.2500 to 1.2530 level. On the other hand, if there is a sudden change of the directional bias on this pair, we could potentially see this pair retrace to 1.2120 - 1.2160. We will watch this pair very closely and see what the price pattern tells us the next move of EURUSD.
Good trading
NinjaSingapore
17 Jan 2018
DISCLAIMER
Our research materials are provided for information purposes only. They should not be used or considered as an offer to sell or a solicitation of an offer to buy any securities. The research materials are prepared for general circulation and general information only. They do not take into account the specific investment objectives, investment knowledge and experience and financial situation of any recipient. Investors seeking to buy or sell any securities discussed or recommended in our research materials, should seek independent financial advice relating thereto and make his/her own appraisal of the tax or other financial merits of the investment.
Any opinions expressed are subject to change without prior notice. Our research materials are based on information from various sources believed to be reliable. Although all reasonable care has been taken to ensure that such information is not misleading, we make no guarantee, representation or warranty, expressed or implied as to its accuracy, adequacy or completeness. We do not accept any liability whatsoever for any direct, indirect or incidental, special or consequential loss of any kind arising out of the use or reliance on the information in our research materials.
Investors like you may be wondering this pair's movement in the following week. From a technical outlook, this pair had been in an uptrend since the swing low on 12 December 2017 at 1.1718.
Based on our forecast, if the bullish momentum continues, we could potentially see this pair to test 1.2380 as our first target and if this level is taken out, we could also potentially see this pair to test 1.2500 to 1.2530 level. On the other hand, if there is a sudden change of the directional bias on this pair, we could potentially see this pair retrace to 1.2120 - 1.2160. We will watch this pair very closely and see what the price pattern tells us the next move of EURUSD.
Good trading
NinjaSingapore
17 Jan 2018
DISCLAIMER
Our research materials are provided for information purposes only. They should not be used or considered as an offer to sell or a solicitation of an offer to buy any securities. The research materials are prepared for general circulation and general information only. They do not take into account the specific investment objectives, investment knowledge and experience and financial situation of any recipient. Investors seeking to buy or sell any securities discussed or recommended in our research materials, should seek independent financial advice relating thereto and make his/her own appraisal of the tax or other financial merits of the investment.
Any opinions expressed are subject to change without prior notice. Our research materials are based on information from various sources believed to be reliable. Although all reasonable care has been taken to ensure that such information is not misleading, we make no guarantee, representation or warranty, expressed or implied as to its accuracy, adequacy or completeness. We do not accept any liability whatsoever for any direct, indirect or incidental, special or consequential loss of any kind arising out of the use or reliance on the information in our research materials.
Trade active:
Our first target of 1.2380 was achieved a minute again. USD is quite weak and hit a 3-year low. Let's monitor if the second level target of 1.25 can be achieved for this pair. Interesting.
Trade closed: target reached:
Well, target 2 - 1.25 - 1.2530 was just hit. This is a very profitable and nice trade in my opinion by following my own forecasting principles. We will look for another opportunity on EUR/USD when the time comes.