Hi guys,
I just want to share with you my ideas and analyis about EUR/USD pair.
We have seen and we are experiencing a big rally in the Euro lately mainly due to bullish investors sentiment and postive economic outlook. Personally, I expected a reversal at 1.14-1.15, for a possible correction. However, the resistance level at 1.6173 has been broken yesterday thanks to mario draghi "postive words". Right now I am not 100% bullish, since we still have to break the high of August 2015, at around 1.714 (red arrow), and the RSI is approaching the overbought zone. After we break that high, I would wait a correction, something like a re-test of support, in order to have a better risk/reward profile.
Thanks
Feel free to share your thoughts
Sebastiano
I just want to share with you my ideas and analyis about EUR/USD pair.
We have seen and we are experiencing a big rally in the Euro lately mainly due to bullish investors sentiment and postive economic outlook. Personally, I expected a reversal at 1.14-1.15, for a possible correction. However, the resistance level at 1.6173 has been broken yesterday thanks to mario draghi "postive words". Right now I am not 100% bullish, since we still have to break the high of August 2015, at around 1.714 (red arrow), and the RSI is approaching the overbought zone. After we break that high, I would wait a correction, something like a re-test of support, in order to have a better risk/reward profile.
Thanks
Feel free to share your thoughts
Sebastiano