The analysis remains the same: EUR/USD continues to rise in a correction of the dominant down-trend. It has reached 1.1000 which is potentially an important psychological round-number.
The trend in the very short-term has now turned positive and is likely to extend higher. There may be a space for a long trade from the 1.1038 highs up to the S1 Monthly Pivot at 1.1065, however, this is a quite high risk, because the pair could oscillate around the 1.1000 level as well.
Stronger confirmation of further upside would, in my opinion come from a break above the S1 monthly pivot at 1.1065, including a 20-point margin, so at 1.1085, with a continuation expected from there towards a target at 1.1275.
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EUR/USD: Consolidating At 1.1000 With Bullish Bias
Published 03/25/2015, 05:47 AM
Updated 07/07/2019, 08:10 AM
EUR/USD: Consolidating At 1.1000 With Bullish Bias
Forex4you
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