Bullish is back for EURUSD?
EURUSD was down to 1.1190 area which is not too surprising after the nomination of Mrs. Lagarde to be the head of ECB. I think she wouldn't get the majority supports of investors.
As for our analysis, yes, it broke 1.1250 but it could be foretell based on our trend lines. Now, the price has move out of the down trend (Yellow trend) and moving upward in the upper half of Purple trend, which are the indicators that help us to buy. If you followed the FED's chairman testify last night, you definitely should buy EURUSD. In the long term, there is a very good chance that EURUSD will come close to 1.15 (ML of Turquoise trend), but 1.1350 area should come first (the upper parallel Purple).
As for our analysis, yes, it broke 1.1250 but it could be foretell based on our trend lines. Now, the price has move out of the down trend (Yellow trend) and moving upward in the upper half of Purple trend, which are the indicators that help us to buy. If you followed the FED's chairman testify last night, you definitely should buy EURUSD. In the long term, there is a very good chance that EURUSD will come close to 1.15 (ML of Turquoise trend), but 1.1350 area should come first (the upper parallel Purple).
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