EUR/USD: Bullish bias while above 1.3580 - 2ndSkies

By FXstreet.com | June 08, 2014 AAA

FXStreet (Bali) - On his weekly market review, Chris Capre, Founder at 2ndSkies Forex, highlights his long trade in EUR/USD, noting that the pullback seen last Friday was the trigger to enter long, with bullish bias as long as 1.3580 respected.



Key Quotes



"After the long tailed pin bar that we discussed last Thursday, the Euro pulled back a little bit towards the top of the consolidation zone, which was natural after such a large bullish bar."



"Our buy zone was between 1.3615 and 1.3645, so anyone who was looking to get long should be long by now. Resistance short term comes in at Friday's highs around 1.3676. As long as 1.3580 holds, we'll remain bullish."



"Holding current longs, looking for a break of 1.3676 with first target around 1.3745, and a second target around 1.3830, while the potential remains for a larger reversal up to 1.3890. If you are not currently long, look for a weak pullback into the 1.3620/1.3585 support zone."



comments powered by Disqus
Related Forex Analysis
  1. USD/JPY desperate to move away from 107.00
    Forex News

    USD/JPY desperate to move away from 107.00

  2. US Dollar Technical Analysis: Readying to Resume Uptrend?
    Forex News

    US Dollar Technical Analysis: Readying to Resume Uptrend?

  3. GBP/USD goes nowhere ahead of retail sales report
    Forex News

    GBP/USD goes nowhere ahead of retail sales report

  4. EUR/JPY Technical Analysis: Former Resistance Now Support
    Forex News

    EUR/JPY Technical Analysis: Former Resistance Now Support

  5. GBP/JPY Technical Analysis: Pound Sold vs. Japanese Yen
    Forex News

    GBP/JPY Technical Analysis: Pound Sold vs. Japanese Yen

Trading Center