EUR/USD weekly overview

EUR/USD weekly overview

Take a look at a weekly chart, the price is near key buy zone. From that level 1.1500 can start a middle - term trend up.

Also, a Few days ago I wrote that price can move down to 1.1300. That scenario has a low probability for this moment. Because on Thursday (14 Jul), was a powerful move down on EUR/USD (284 pips), but what happened after it?

After it, price consolidated and when it tests 4 — weeks low 1.15087 it bounced up. If Big players wanted to move currency rated down, we could see a powerful break of the key level and the price could close lower 1.1500 on daily. That could be a signal for short.

But on Friday price bounced from 4 — weeks low and daily chart close above it. That shows that it is better to look for Long opportunities.

Also, currency rated can make a PullBeak to the borders of Range 1.2156.

I recommend to look for buy near 1.1510 – 1.1520
S/L: 1.1490 – 1.1480
1T/P: 1.1820
2T/P: 1.1970

P.S. If price will break down 1.1500 and D1 close under it, forget about buy and close all long positions.