Hi traders.
EURUSD has been in an uptrend for the past month or so and has only recently started to slide to the downside after the non-event second round of the French presidential election. Given the overall trend though it is likely that institutional dip buyers are waiting in the bushes ready to pounce. The 1.083 area has a few confluences to support price. If price manages to slide down into the area it may present a good, low risk, buying opportunity for an intraday move at the least. Will it result in a trend continuation and send EURUSD to new highs? Highly unlikely, but for a short-term trade it is a good setup.
Enjoy and remember to thumbs up and follow!
EURUSD has been in an uptrend for the past month or so and has only recently started to slide to the downside after the non-event second round of the French presidential election. Given the overall trend though it is likely that institutional dip buyers are waiting in the bushes ready to pounce. The 1.083 area has a few confluences to support price. If price manages to slide down into the area it may present a good, low risk, buying opportunity for an intraday move at the least. Will it result in a trend continuation and send EURUSD to new highs? Highly unlikely, but for a short-term trade it is a good setup.
Enjoy and remember to thumbs up and follow!