EurUsd- Ready for new leg up
After breaking 1.2 important zone, EurUsd reached a high just under 1.22 and stopped its ascent.
The correction attempt was met with strong buying around 1.21 by the bulls and we now have a rectangle pattern on our chart which in most of the cases means continuation.
With USD being so weak with all its counterparts I would expect that to be the case for EurUsd and a new leg up to follow.
We have a clear confirmation once the pair breaks above 1.2170 and 1.23 could be our first target.
A break under 1.2070 on the other hand would delay this outlook.
Buy dips is my strategy for EurUsd
The correction attempt was met with strong buying around 1.21 by the bulls and we now have a rectangle pattern on our chart which in most of the cases means continuation.
With USD being so weak with all its counterparts I would expect that to be the case for EurUsd and a new leg up to follow.
We have a clear confirmation once the pair breaks above 1.2170 and 1.23 could be our first target.
A break under 1.2070 on the other hand would delay this outlook.
Buy dips is my strategy for EurUsd
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