9 Jun 2014
EUR/USD: Bullish bias while above 1.3580 - 2ndSkies
FXStreet (Bali) - On his weekly market review, Chris Capre, Founder at 2ndSkies Forex, highlights his long trade in EUR/USD, noting that the pullback seen last Friday was the trigger to enter long, with bullish bias as long as 1.3580 respected.
Key Quotes
"After the long tailed pin bar that we discussed last Thursday, the Euro pulled back a little bit towards the top of the consolidation zone, which was natural after such a large bullish bar."
"Our buy zone was between 1.3615 and 1.3645, so anyone who was looking to get long should be long by now. Resistance short term comes in at Friday's highs around 1.3676. As long as 1.3580 holds, we'll remain bullish."
"Holding current longs, looking for a break of 1.3676 with first target around 1.3745, and a second target around 1.3830, while the potential remains for a larger reversal up to 1.3890. If you are not currently long, look for a weak pullback into the 1.3620/1.3585 support zone."
Key Quotes
"After the long tailed pin bar that we discussed last Thursday, the Euro pulled back a little bit towards the top of the consolidation zone, which was natural after such a large bullish bar."
"Our buy zone was between 1.3615 and 1.3645, so anyone who was looking to get long should be long by now. Resistance short term comes in at Friday's highs around 1.3676. As long as 1.3580 holds, we'll remain bullish."
"Holding current longs, looking for a break of 1.3676 with first target around 1.3745, and a second target around 1.3830, while the potential remains for a larger reversal up to 1.3890. If you are not currently long, look for a weak pullback into the 1.3620/1.3585 support zone."