EURUSD seems to have completed its long term retracement and it seems that it is now aiming to break 1.4200 level. Once EURUSD manages to break above 1.4200 level, the long term upward trend will be resuming itself. The EURUSD took a good dip today and gave some good entry levels below 1.4100 level and at the same time provided traders with opportunities who had sold EURUSD for short term trades.
Currently it seems that traders will be focusing on buying EURUSD around 1.4140 levels for long term targets well around 1.4340 level. It will not only resume the upward trend but also open up the upward move which can extend well above 1.4600 level.
RSI is above 63 and it seems that it has more than enough space for EURUSD to make a move towards 1.4340 level. If we consider the moving averages, all three of them are very much indicating the upward trend so basically the traders will be looking to enter at some reasonable level.
Not only the long term traders can benefit from this situation but also the Intra-day traders will be having some good trading chances. The Intra-day trader will just focus on buying EURUSD for retracement dips and they will get some intra-day traders.
Latest posts by admin (see all)
- Money Management in Forex: More Than Just Trading - February 17, 2018
- Identifying Trends through Synchronization - February 17, 2018
- Using Multiple Trendlines to Identify Better Trades - February 15, 2018
Winner’s Edge Trading, as seen on: