EUR/USD could move up! Hey tradomaniacs,
looking at EUR/USD I could imagine to see another move up now right at the current support-zone.
Previous momentum has not been able to break the support, and much effort plus narrow spread are showing a possible reversal.
Additionally we see much volume in the market-depth with aggressive buyers who are currently collecting contracts.
Still, fundamentals and the inflation-topic is the number 1 driver currently! So watch out!
Erususd
SELL EURUSD againEURUSD faced a strong resistance at Fibo 50% and still inside the descending channel and under MA 200
on the other hand, the dollar index is bouncing from Fibo 61.8% and the ascending trendline (the yellow line)
long term investor should place their stop loss above 1.11
Target1 should be placed at 1.09