The pair looks still bullish but looks not ready to reach the target of the purple arrow on the chart. I mean far above the red trend line. Breaking this level will open a straight way to 1,20 levels and higher.
I think that here the market can stagnate in order to decide in which direction it will go. But sooner or later it must go higher, above the trend line. In this case and that is what we hope, we'll see new highs coming. Even if this can happen in the coming days, I prefer to stay out and take small trade's because of the risk. In the worst case that I can imagine the EURUSD will stagnate in this area before a break down lower again. Although this will not be an extreme fall but will not be fun if going long. After this correction the pair will have the proper space to going up again to make a new attempt to break the trend line. This last case will happen in the medium term. But I do not expect a total reversal that will crash the EU which is definitely to strong except if extrême bad news is coming up. Looking to the last months and EU economic expectations this not what will happen in the short term. Draghi's expectation is to see a continuous but moderate progression of the EU economy which will reflect on the EU pairs.
I think that here the market can stagnate in order to decide in which direction it will go. But sooner or later it must go higher, above the trend line. In this case and that is what we hope, we'll see new highs coming. Even if this can happen in the coming days, I prefer to stay out and take small trade's because of the risk. In the worst case that I can imagine the EURUSD will stagnate in this area before a break down lower again. Although this will not be an extreme fall but will not be fun if going long. After this correction the pair will have the proper space to going up again to make a new attempt to break the trend line. This last case will happen in the medium term. But I do not expect a total reversal that will crash the EU which is definitely to strong except if extrême bad news is coming up. Looking to the last months and EU economic expectations this not what will happen in the short term. Draghi's expectation is to see a continuous but moderate progression of the EU economy which will reflect on the EU pairs.
评论:
Above 1,1450. there can be an attempt to reach the 1,15 -1,1550. Although price must hold above this on the daily closing until half this week and indicators must show new strength to swing higher. If this is not realized before the end of the week then it will be pretty hard to stay above 1,1450 and a correction down before the next rise is likely to happen.