We have been buying EURUSD for the last two weeks from 1.0780 and the results have been great(check idea link attached below)
However, last Friday, it appears the 100D EMA at 1.1035 region has offered some resistance to EURUSD's recent rally.
So, this week, I will be watching whether this area that I have highlighted in my chart offers some resistance or not. If the resistance holds, there are chances of a pullback to the 1.0920 area.
If the above scenario becomes valid, traders can sell between 1.1030-1.1050 with the target of 1.0910-1.0960.
Long-term traders, on the other hand, can use this pullback to BUY THE DIPS and target the 1.1150 area as a potential Take Profit Zone.
However, last Friday, it appears the 100D EMA at 1.1035 region has offered some resistance to EURUSD's recent rally.
So, this week, I will be watching whether this area that I have highlighted in my chart offers some resistance or not. If the resistance holds, there are chances of a pullback to the 1.0920 area.
If the above scenario becomes valid, traders can sell between 1.1030-1.1050 with the target of 1.0910-1.0960.
Long-term traders, on the other hand, can use this pullback to BUY THE DIPS and target the 1.1150 area as a potential Take Profit Zone.
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