To obtain Ilya’s evaluation instantly by way of e mail, please SIGN UP HERE
- EUR/USD Technical Strategy: Flat
- Euro posts largest achieve in 2 months vs US Dollar after Flag sample breakout
- Confirmation, improved danger/reward settings wanted for actionable commerce setup
The Euro posted the most important every day achieve in two months towards the US Dollar, clearing the swing excessive set in early August and hinting the rising development launched in mid-April is resuming. The transfer greater follows the foreign money pair’s completion of a bullish Flag chart sample, as expected.
From right here, a every day shut above the 38.2% Fibonacci enlargement at 1.1964 opens the door for a problem of the 50% degree at 1.2057. Alternatively, a reversal again under the 23.6% Fib at 1.1848 paves the best way for a retest of the August 17 swing low at 1.1662.
Current positioning doesn’t appear to supply an actionable commerce setup. Prices are too near fast resistance to justify getting lengthy from a danger/perspective whereas the absence of an outlined bearish reversal warns that taking over the brief aspect is untimely. On stability, staying flat appears most
SOURCE: Daily Forex Signals – Read whole story here.