| EUR/USD Chart Levels: Support 1.3900..1.3850..1.37. Resistance 1.396..1.4026..1.4100. | ||||
| Strategy | Entry | Stop | T1 | T2 |
| Intraday: Long | 1.3750 | 1.3640 | 1.4026 | 1.4100 |
| Weekly: short | 1.4275 + add 1.4400 | 1.4490 | 1.3890 | 1.3750 |
The Euro continues to move higher, while remaining with the medium-term correction higher. The Bollinger Bands on the daily chart display bullish signals with topside targets at 1.4275 & 1.4400. Selling pressure has eased, thus making buying Euro’s more attractive on intraday dips with tight stop orders.
On the chart below the 200 day moving average continues to fall signaling long-term prospects in favor of Euro bears, whereas the 21 day mavg signals and short-term move in favor of the bulls. The Stochastic and MACD oscillators are also indicating buy preferences. Therefore, on an intraday basis the pair can be traded with an upside bias. Also of note are that the 1.4000 and 1.3890 Fibonacci support levels were tested. The next upside target for bulls is at 1.4275.
The Euro continues to move higher, while remaining with the medium-term correction higher. The Bollinger Bands on the daily chart display bullish signals with topside targets at 1.4275 & 1.4400. Selling pressure has eased, thus making buying Euro’s more attractive on intraday dips with tight stop orders.
On the chart below the 200 day moving average continues to fall signaling long-term prospects in favor of Euro bears, whereas the 21 day mavg signals and short-term move in favor of the bulls. The Stochastic and MACD oscillators are also indicating buy preferences. Therefore, on an intraday basis the pair can be traded with an upside bias. Also of note are that the 1.4000 and 1.3890 Fibonacci support levels were tested. The next upside target for bulls is at 1.4275.