The pair is primarily in a bullish trend since the beginning of May. Last week it formed a lower high and a lower low, maybe indicating the start of a possible bear trend.
Still, I believe the pair will be a decent buy at the 1.2850-2950 area. The target for the trade will be clearer when the trading week starts. For now 1.31ish is a possible target.
A bearish outlook for oil the coming week, are in accordance with the outlook of the pair.
Still, I believe the pair will be a decent buy at the 1.2850-2950 area. The target for the trade will be clearer when the trading week starts. For now 1.31ish is a possible target.
A bearish outlook for oil the coming week, are in accordance with the outlook of the pair.
Comment:
Keeping the bullish outlook for USD the coming week as well, awaiting a bigger move beyond the intraweek timehorizon.