Orion-Markets

EURUSD Long Idea

Long
FX:EURUSD   Euro / U.S. Dollar
After EURUSD fell towards the support zone of 1.31 there has a steady uptrend forming. The recent Dollar weakness has pushed EURUSD up from this key level, and with the apparent continuation of this weak Dollar it's likely for a retest of the previous resistance level. The RSI levels on the 4hr time frame show this current level to be in oversold conditions which adds to our bullish short-term bias. The target of this trade is located at the previous high, at 1.45, and beyond if the uptrend continues. The stop-loss area is at 1.293.

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