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Long

We prefer to go long in EUR/USD

FX:EURUSD   Euro / U.S. Dollar
939 2 4
EUR/USD             has retreated after making high of 1.2568 level. It is trading between Schiff pitchfork channel for the past 10 trading session. The major support is around 1.2250 and nay trend reversal can happen only below that level.

On the upper side minor resistance is around 1.2360 and any break above will target 1.2430/1.2477.
The break below of 1.2250 would extend loss to 1.2200/1.2047 (161.8% retracement of 1.2246 and 1.2568).

Recommendation: Buy EUR/USD             around 1.2295, SL 1.2243, Target 1.2477
Credit Suisse enters long EUR/USD: Credit Suisse has placed a limit order to Long EUR/USD (Short-Term) at 1.225, with a target at 1.2385 and a stop at 1.2225

Positioning Bias:
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EUR/USD has retreated after making high of 1.2568 level. It is trading between Schiff pitchfork channel for the past 10 trading session. The major support is around 1.2225-40 and any trend reversal can happen only below that level.
On the upper side minor resistance is around 1.2336 and any break above will target 1.2385/1.2430.
The Short term trend reversal happens only above 1.2600.
The break below of major support would extend loss to 1.2200/1.2047 (161.8% retracement of 1.2246 and 1.2568).
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Recommendation: Buy EUR/USD around 1.2250, SL 1.2225, Target 1.2385.
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