EURUSD is bullish and its following fib levels from 2-3 weeks. if this current low(re-test) is real then it is just a new higher low go long for new higher high. Its a good time to go bullish. Higher high and lower lows are also forming.
Higher highs and Higher Lows formation is made.Which mean uptrend according to dow theory. Take a resistance from 200 EMA,a trend line, Horizontal resistance level (1.39957) . If it breaks it with engulfing Candle and good volume, and comes back to retrace it , then it may be a good long swing trade till 1.41064. OANDA:GBPUSD
KEEP A WATCH ON HIGHLIGHTED LEVEL. IF THE TREND BRAKE THE LEVEL AND SUSTAIN ABOVE IT FOR 2-3 DAYS THEN IT CAN GIVE GOOD TARGET FOR 6% + FOR UPSIDE.
IF MARKET TREAT THE LEVEL AS A RESISTANCE AND THEN MARKET STARTS COMING DOWN TO THAT LEVEL THEN YOU CAN SHORT THE MARKET FOR 5% OR MORE TARGET. ITS A WEEKLY CHART.
