Hi traders,
This week the EURUSD has found a bottom around the 108000 level. Price consolidated in a tight 60 tick range before breaking to the upside. Price action remains oversold on the stochastic, any pullback plays should be taken with short interim targets.
The most recent market pop comes from the PMI weakness in the USD and not EUR strength.
Any long plays should be toward the 109979 level and short plays should be towards the 108000 handle.
All the best,
Aardall
This week the EURUSD has found a bottom around the 108000 level. Price consolidated in a tight 60 tick range before breaking to the upside. Price action remains oversold on the stochastic, any pullback plays should be taken with short interim targets.
The most recent market pop comes from the PMI weakness in the USD and not EUR strength.
Any long plays should be toward the 109979 level and short plays should be towards the 108000 handle.
All the best,
Aardall