Hi,
If you are already Long on this pair well done! (we took a few long positions earlier in the week and banked 150ish pips and then got out as the market turned on the euro earlier in the week)
The Euro has resumed the uptrend. Personally I feel it will keep heading higher - HOWEVER right now I dont like the risk/reward of taking a long position at the moment.
If the pair retraces - we will look for the longs. If the pair closes strongly above the highlighted resistance done, we will look for longs with an expectation of a continued move upward (150ish pips)
But while the pair is in the current resistance zone, its best to just sit and wait.
If you are already Long on this pair well done! (we took a few long positions earlier in the week and banked 150ish pips and then got out as the market turned on the euro earlier in the week)
The Euro has resumed the uptrend. Personally I feel it will keep heading higher - HOWEVER right now I dont like the risk/reward of taking a long position at the moment.
If the pair retraces - we will look for the longs. If the pair closes strongly above the highlighted resistance done, we will look for longs with an expectation of a continued move upward (150ish pips)
But while the pair is in the current resistance zone, its best to just sit and wait.
We are seeing a retracement - price is coming down from resistance fuelled by disappointing Flash services figures from France / Germany
NZD is having a strong day - so we may take a few small short positions but nothing too significant.