My plan for today as an EURUSD bull will be to wait for a reversal pattern around 1.2150 where is the MS1 and WS2. If it holds, I will potentially look to take profit around 1.2300 which is the top of the channel, this month MPP and 61.8 Fib retracement.
If the 1.2150 level is broken, then I will start looking to the 1.20 Major Psychological level.
We can already see volatility on the pair, people is looking forward to hearing Super Mario at 11:30. The one-day implied volatility reading is at 13.11% which is the highest in about 3 months. Nothing new ahead, no rate change is expected and the QE is expected to run until September. Although, we could hear some comments of the board member Yves Mersch and Vitas Vasiliauskas saying that inflation hasn’t weekened as much as they predicted and Vasiliauskas saying that he is feeling more confident about being time for QE transition. So if we can see Draghi saying the same as his colleges we could see a boost in the EUR.




One thought on “EURUSD”

  1. I forgot to mention that we can see a divergence in the Stochastic in the 4H chart.

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