Previous Analysis on EU
In my last analysis, I have called EU have made short term top and will correct to the price level where Euro is at right now.
The big idea is though that Euro is on a run and we want to get a piece of it. The current support level could be a solid support to trade on short term.
While I do not recommend committing fully at this level, it's worth to test water and see how it goes.
As I have drawn on this chart, there are multiple way this can go, but the bottom line is support around 1.107 level should not be violated on daily candle.
As long as we keep our chart steady as explained, Euro should remain bullish and its worth a long bet.
One thing to note is that Global Recession could be near done (based on statistics) and we could take current phase as "Weakening Dollar Phase" as dxy has violated
very important support level. My idea on dxy could be found here.
Please note that this is not a TRADING recommendation.
Thank you and you all have good luck with your trading!
In my last analysis, I have called EU have made short term top and will correct to the price level where Euro is at right now.
The big idea is though that Euro is on a run and we want to get a piece of it. The current support level could be a solid support to trade on short term.
While I do not recommend committing fully at this level, it's worth to test water and see how it goes.
As I have drawn on this chart, there are multiple way this can go, but the bottom line is support around 1.107 level should not be violated on daily candle.
As long as we keep our chart steady as explained, Euro should remain bullish and its worth a long bet.
One thing to note is that Global Recession could be near done (based on statistics) and we could take current phase as "Weakening Dollar Phase" as dxy has violated
very important support level. My idea on dxy could be found here.
Please note that this is not a TRADING recommendation.
Thank you and you all have good luck with your trading!