EURUSD has been my ultimate favorite pair to monitor and trade for the past several weeks. As illustrated on the chart, the impulsive - correction structural move on this pair, coupled with the fundamental side of the equation with a bullish ECB talking about ending the QE and a retracing DXY has attracted a lot of traders to this pair. I will be monitoring this pair and this week's close, looking for a strong weekly close above the weekly structure. That will open the room for the upside on Euro. Having said that, DXY is getting close to a maji\or support area. Will sit tight and watch the price action. Cheers!
Mate its going to touch 1.20 or 1.18 zone..dont sit and watch, trade trade trade.. situation like this dont come everyday.
ErfanParvini
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@Alinaz26, Not a fan of buying at highs, prefer to wait for a pull back. cheers!
Alinaz26
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@erfan.Parvini, I get you mate... good luck, I dont think this rally will stop anytime before 1.18.. sure here and there some dips but Draghi is set you see what happens when Euro is high...
@erfan.Parvini, thanks mate, keep buying.. 1.18 to 1.20 zone has been eyed... good luck
Alinaz26
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@erfan.Parvini, Did you put in your Buy???? 1.18 mate.. all the way
ErfanParvini
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@Alinaz26, Yes I bought several contracts at 61.8 ret. Nice move today!
Alinaz26
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@erfan.Parvini, hahahahaha, well done mate.. so did I!!!!! waiting for reversal any idea???
ErfanParvini
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@Alinaz26, Looking at the big picture, I think 1.2000 by the end of Q3 is very much achievable and then a major retracement until the next steps of ECB and Fed are laid out.