Euros spent most of yesterday ticking higher in the Eurozone. We reached 1.2980 before edging back. Now overnight we
are higher once more and we look therefore for another attack on 1.2990. Now at this point we have the 60 and 240 min
charts at neutral to positive, so there is a chance we will break 1.2990 for 1.3015.
We would cover all longs to these higher levels and we would look to sell into strength to here, and hold unless we break
1.3015. If we do break this resistance we are going to see a fairly strong rally in the market with 1.3060/75 the nearby attraction.
Once more look to cover all longs and expect to see sellers at these higher levels. Now this does all depend on
whether the Euro has the backing to break the boundary of 1.2990.
Failure to do so leaves us with a double top on the 60 min charts, and this should then provoke another move to the downside and we would expect 1.2920 to entice prices once more...Cover all shorts to here...attempt small longs, stops below
The article was first published by CharmerCharts