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EUR optimism is mounting as EUR overstep psychological threshold of 1.1000 ag USD once again.
* The pair sparked during the Asian session as the markets participants started selling USD on the back of a Bloomberg's report stating that the US is planning to enter into a currency agreement with China.
* In the short-term, traders should pay attention to the ECB minutes and rate cuts announcement by the US Fed.
* On 1D Chart, EURUSD strike through 21-period exponential moving average, simultaneously breaking out of the mid-term descending trend channel.
* On 1H Chart, EURUSD went through the 3-steps trading pattern (contraction, expansion, trend) and is currently rounding off a profit taking phase.
* Overall, the mid-term outlook is UP, while a 1H short-run direction is temporarily down.
Mid-term trading strategy
Buy @1.0990 - 1.1010.
Target: 1.1150.
Stop-loss: 1.0935.
Short-run trading strategy
Sell @1.1020 - 1.1030.
Target: 1.0990.
Stop-loss: 1.1040.
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
If you agree with this analysis, then Like it and visit my page! This will be the best feedback and encouragement for me!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
EUR optimism is mounting as EUR overstep psychological threshold of 1.1000 ag USD once again.
* The pair sparked during the Asian session as the markets participants started selling USD on the back of a Bloomberg's report stating that the US is planning to enter into a currency agreement with China.
* In the short-term, traders should pay attention to the ECB minutes and rate cuts announcement by the US Fed.
* On 1D Chart, EURUSD strike through 21-period exponential moving average, simultaneously breaking out of the mid-term descending trend channel.
* On 1H Chart, EURUSD went through the 3-steps trading pattern (contraction, expansion, trend) and is currently rounding off a profit taking phase.
* Overall, the mid-term outlook is UP, while a 1H short-run direction is temporarily down.
Mid-term trading strategy
Buy @1.0990 - 1.1010.
Target: 1.1150.
Stop-loss: 1.0935.
Short-run trading strategy
Sell @1.1020 - 1.1030.
Target: 1.0990.
Stop-loss: 1.1040.
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
If you agree with this analysis, then Like it and visit my page! This will be the best feedback and encouragement for me!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
