| EUR/USD Chart Levels: Support 1.3450..1.3400..1.32. Resistance 1.3500…1.3550…1.3600 | ||||
| Strategy | Entry | Stop | T1 | T2 |
| Intraday: Long | 1.3400 | 1.3340 | 1.3550 | 1.3600 |
| Weekly: short | 1.3550 + add 1.3600 | 1.3660 | 1.3400 | 1.3200 |
The Euro is appreciating, remaining within the medium-term correction upward. The daily Bollinger Band is displaying bullish momentum with near-term targets of 1.3550 and 1.3600 above that. As selling pressure has continued to ease, buying the Euro on dips with tight stops becomes the attractive play.
On the daily chart below we see the 100 day moving average continues to move lower, indicating a longer-term prospect in favor of Euro bears; while the 21 day mavg is indicating short-momentum in favor or the bulls. That being said the MACD and Stochastic oscillators both indicate buy signals for the pair. Therefore the inter-day trading play continues to be long the Euro. The chart also shows the 1.3400 and 1.3375 Fibo retracement levels were tested by Euro shorts.