So, the eurusd is making a higher high and higher low sequence in the short-term. Structure wise we expect the market to test the 1.1150 levels before the weekly downtrend could resume. If the market breaks below 1.07775 we wouldn’t be looking for more upside anymore. The reason for that are intermarket relations, structure and correlations reasons. We don’t want to go into details because we want to protect our client’s priority.
Overall, we don’t like this pair either to buy or sell and as of for right now we will be on the side-lines.
Never risk more than 0.5% per trade and never overleverage your account otherwise you will lose your account.
Cheers
Your Secrets2Trade Team
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Like said in the weekend update, eurusd just broke the highs, now we will be looking at the next target of 1.1140
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So as we said, EURUSD is making its way to the upside. with a break above 1.1180 it could open up extension higher to around 1.1250. But be careful at the current stages. We wouldn't recommend trading it either on the short or long side. Don't be too bearish the USD as well!
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Next EURUSD target is 1.13 as long as USDCHF does not reach 0.96770 EURUSD will eventually go higher!
@midas11, Thank you! Be careful with the EURUSD at the current stages. We will update the chart in a minute.
midas11
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@secrets2trade, thanks I followed the update and has placed the SL tight around 1.1220. It looks like it's found support there. I wouldn't loose much at that place. Thanks for the update