A pullback might be possible but don't jump into buys yet
Hello traders! In my last week's EUR/USD ideas, I recommended selling EURUSD@1.2180-1.2208
If you followed me, then you should have bagged very good 100+ pips profit from the sell trade.
(previous idea attached below for your reference)
Currently, price is on it's way towards the support line of the minor price channel.
So, there might be a pullback soon. Personally, I don't recommend buying EUR/USD yet as the
divergence in monetary policy between the European Central Bank and the Federal Reserve Bank
is set to grow wider in the upcoming months. I am anticipating a strong US Dollar across the board.
However, that is a long-term view.
Even then, I would be extra careful before buying the Euro at current levels as the weekly charts
have started to tilt to the downside.
That being said, EURUSD can still have a decent pullback to the 1.2160 level.
If you followed me, then you should have bagged very good 100+ pips profit from the sell trade.
(previous idea attached below for your reference)
Currently, price is on it's way towards the support line of the minor price channel.
So, there might be a pullback soon. Personally, I don't recommend buying EUR/USD yet as the
divergence in monetary policy between the European Central Bank and the Federal Reserve Bank
is set to grow wider in the upcoming months. I am anticipating a strong US Dollar across the board.
However, that is a long-term view.
Even then, I would be extra careful before buying the Euro at current levels as the weekly charts
have started to tilt to the downside.
That being said, EURUSD can still have a decent pullback to the 1.2160 level.
