Slowly but steadily EUR/USD
is scaling one level after another. About a month ago we questioned sell the rally idea on EUR/USD
after Fed and switched from seller to buyer. So far so good and nothing to worry other than usual jitters. Of course, current market conditions doesn't warrant complacency but if Fed doesn't deliver soon, then as one way buy side trades we are executing in AUD/USD
should be done in EUR/USD
too. Price action hardly follow the straight line ( and actually that's where the opportunities are ! ) so we are probably going to get plenty of action between 1.1200 and 1.1600 but now bias is surely to trade it from long side.
We will buy pullbacks and will take profit on rallies towards 1.1400 initially but ultimately looking for spikes towards 1.1600.