Howdy Folks,
Tonight I’m pondering whether or not EUR/USD has truly broken out of consolidation now that we have a bargain day opportunity. This currency has been trending higher since February’s lows, and broke out sharply higher on Friday. Today, the currency pair appears to have completed a pull back on the breakout. I think if the trend holds together EUR/USD is probably on it’s way to test $1.3850ish, which is the support level that broke down in early February. Perhaps the Fed statement tomorrow will give this currency the volatility it needs to break higher. We’ll see how it plays out, best of luck.
Ryan
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Go Long this pair and use tight stops before the Fed Announcement. You might hit a home run or have a small loss.
Howdy Robb,
Yeah I was long on EUR/USD and EUR/JPY overnight. I took profit as they ran into supply, ahead of the Fed statement.
Thanks for the comment, hope you are doing well!
Ryan