LONG on EURUSD?
Hello altogether,
After making some $ on the last trade of EURUSD, I think we are ready for the next move.
Check the chart above: either we will make a move back down into the vertical resistance and bounce up or we will immediately break the vertical resistance.
Both moves are possible.
I am neglecting the downside move, since I do not anticipate this happening right now:
1. After Jackson hole the USD got under pressure and was not able to recover yet.
2. Yesterday's ADP data was very weak. I do not expect any strength for upcoming market events.
As usual: watch those areas, in case of confirmation: get the ball rolling :)
After making some $ on the last trade of EURUSD, I think we are ready for the next move.
Check the chart above: either we will make a move back down into the vertical resistance and bounce up or we will immediately break the vertical resistance.
Both moves are possible.
I am neglecting the downside move, since I do not anticipate this happening right now:
1. After Jackson hole the USD got under pressure and was not able to recover yet.
2. Yesterday's ADP data was very weak. I do not expect any strength for upcoming market events.
As usual: watch those areas, in case of confirmation: get the ball rolling :)
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