by Admin

daily chart

EURUSD: 1.3111

Short-Term Trend: sideways


EUR advanced last week and that further justified our bullish view here. However, we need a move above 1.3195 for a final confirmation that wave E up is undeed unfolding. I expect this to happen this coming week. The daily oscillators point up which is positive, but the daily Stochastics is getting overbought. Ultimately a move twd 1.3720 is expected once we can confirm the presented wave count is indeed unfolding.
On the downside, below 1.2870 negates and turns the daily chart negative again….

Strategy: Holding long from 1.2985 is favored. Stop=1.2870.