Altho I'm long already from 1.17920 (Yellow line)
I will continue to hold my 140 pips profit into the coming week
I believe EURUSD will continue its bullish momentum
Heres why
Firstly we have a Fib Retracement where the 61.8% level held as a support (1.1700)
We had numerous long wicks to the down side and not being able to break the FIB level
Secondly we have clearly broken structure creating new highs with strong momentum
this is playing out as a continuation and will continue its upwards momentum
We are clearly in a bullish trend with old strong levels being broken
making higher highs and higher lows (Clear bull trend)
Also on the weekly time frame we have broken our area of consolidation with a huge bullish engulfing candle taking out two weeks of PRICE ACTION breaking all previous highs
And lastly looking at the COT REPORT we have big banks and hedge funds increasing their long exposure from 190k to 197k with and increase of 7k in long positions and their short exposure going from 111k to 109k A decrease in -2k
Altho we are approaching a strong level at 1.2000 and will face some selling pressure I believe it will break this level but regardless I am already 140 pips in profit and will cover my self for any losses of course.
everyone is welcome to join my free trading group
and get in time and up to date support from myself
I will continue to hold my 140 pips profit into the coming week
I believe EURUSD will continue its bullish momentum
Heres why
Firstly we have a Fib Retracement where the 61.8% level held as a support (1.1700)
We had numerous long wicks to the down side and not being able to break the FIB level
Secondly we have clearly broken structure creating new highs with strong momentum
this is playing out as a continuation and will continue its upwards momentum
We are clearly in a bullish trend with old strong levels being broken
making higher highs and higher lows (Clear bull trend)
Also on the weekly time frame we have broken our area of consolidation with a huge bullish engulfing candle taking out two weeks of PRICE ACTION breaking all previous highs
And lastly looking at the COT REPORT we have big banks and hedge funds increasing their long exposure from 190k to 197k with and increase of 7k in long positions and their short exposure going from 111k to 109k A decrease in -2k
Altho we are approaching a strong level at 1.2000 and will face some selling pressure I believe it will break this level but regardless I am already 140 pips in profit and will cover my self for any losses of course.
everyone is welcome to join my free trading group
and get in time and up to date support from myself
