EURUSD long at technical support

On the fundamental side. EURUSD has come a long way down from 1.4000. Ever since ECB announced negative deposit rates, cut interest rates and a whole host of monetary policies. With easy monetary policies for Euro for the next few years, the fundamental economic factors are bearish EURUSD.

On the technical side, there is a technical support level around 1.3300. Though fundamentals are bearish, i think there may be a strong bounce up from 1.3300 support zone. Those who are short EURUSD from higher levels, would probably take profit about 1.3300. Also 1.3300 is the 141.4% FIB extension of the prior downtrend wave.

Hence going long around 1.3300 seems like a plausible trade.

Long EURUSD 1.3290-1.3300
SL 1.3250
TP 1.3500

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