EURUSD | Long Idea (Technical View) | Target 1.1620 and 1.1800+
Since last three months the pair has been in consolidation range of 1.1487 to 1.1120. However, the pair is attempting to breach the range on higher side for the range second time.
• The pair is in formation of Bullish Marubozu candle on weekly chart (If todays close and high remains almost same) and will be breaching downward slopping trend line
• It has bounced from 1.1121 levels this week where 19 months lows were placed, since then pair is in strong upward momentum
• EURUSD has found support of upward sloping trend line on monthly chart as well and RSI also seen picking up sharply
• ECB yesterday left key rates unchanged and pledged to reduce steady its bond purchases
• ECB president Lagarde said they would asses very carefully and will raise rates this year if required
• Eurozone is expected to better than last year, on Covid easing and resumption of economic activity is expected in coming months
****Disclaimer : Please carry personal study before trading or investing****
• The pair is in formation of Bullish Marubozu candle on weekly chart (If todays close and high remains almost same) and will be breaching downward slopping trend line
• It has bounced from 1.1121 levels this week where 19 months lows were placed, since then pair is in strong upward momentum
• EURUSD has found support of upward sloping trend line on monthly chart as well and RSI also seen picking up sharply
• ECB yesterday left key rates unchanged and pledged to reduce steady its bond purchases
• ECB president Lagarde said they would asses very carefully and will raise rates this year if required
• Eurozone is expected to better than last year, on Covid easing and resumption of economic activity is expected in coming months
****Disclaimer : Please carry personal study before trading or investing****