EURUSD still showing potential support below in the
forms of a trend line and prior highs from 6.18.2013 as
well as subsequent lows which were established after
breaking above 1.34 in mid 2013. Consider this an alert
that the euro is considered undervalued when compared to
where it was at the beginning of the year. Now to see if the
trend continues and a retest of the 1.39 level is in the cards.
The 200 day moving average is also below the current price
so you can bet there are some buyers there.
Author's edit: Entry to be placed as close to 1.34 as possible
with a stop just below 1.3280, while targets aim to shoot for
previous highs
forms of a trend line and prior highs from 6.18.2013 as
well as subsequent lows which were established after
breaking above 1.34 in mid 2013. Consider this an alert
that the euro is considered undervalued when compared to
where it was at the beginning of the year. Now to see if the
trend continues and a retest of the 1.39 level is in the cards.
The 200 day moving average is also below the current price
so you can bet there are some buyers there.
Author's edit: Entry to be placed as close to 1.34 as possible
with a stop just below 1.3280, while targets aim to shoot for
previous highs