7:02a GMT - Welcome back for another week of trading PipHutters! The upgrades over the weekend went well - no major issues and everything seems to be working well. If I've been a little slow on responding to comments recently I apologize. There is a lot of things I'm working on right now for PipHut (while still trading myself!) and time seems to be a precious commodity. Luckily we have other traders here who can carry on the discussion!
We are coming off another good week last week, and the price for the EUR/USD is teetering on the recently-established 2009 high as the USD continues to show amazing weakness against the Euro. With a strong uptrend on the larger timeframes we will continue to look to buy dips, however cautious of a potential larger correction.
Trading Idea: Initially I'll be looking above the 1.5000 area (38.2% retracement area) where we saw congestion last Friday, with long targets at 1.5030, 1.5055 and 1.5090. If 1.5000 is broken look for a challenge of 1.4970 and 1.4050.
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