EUR/USD Forecast: Long

Here is what to expect on EUR/USD

RECAP:

In our previous analysis the pair was trading at 1.21100
The pair then hit lows of 1.20630 due to a strong bullish momentum on the US Index (DXY)
We had an active sell order on the pair from our sell positions on our previous analysis which at 1.21700
which we closed at 1.20800 banking us 1800 pips over 20 positions on the pair.


WHAT TO EXPECT:

EUR/USD is currently bullish
DXY looks to have lost its bullish momentum
The pair should break above current resistance at 1.21-1.20800
To confirm upward movement
A break above current resistance will see the pair try an test next resistance at 1.21400
If the pair struggle to break current resistance then we expect it to fall to lows of 1.20200-1.20

OUR POSITIONS:(monitor entries)

Currently @: 1.20880
Buy Stop @: 1.21100
Buy Stop TP @: 1.21300
Sell Stop @: 1.20600
Sell Stop TP @: 1.20400

Link to our previous analysis below
Also check our update on DXY

Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.