The dollar has been incredibly weak relative to most of its counterparts this week;and Macron has displayed a strong performance during this week’s political debate.
Price has struggled to break significantly through the 1.0800 figure, but has failed to break below support, eyed at around 1.0700. thus until create a lower low, I believe the momentum is is still to the upside on this pair. We do have Yellen speaking this afternoon, which may provoke either dollar bullishness or bearishness, and thus I will be cautious trading around this time.

EUR/USD Daily chart

Price has come off MM2; a bullish entry zone with target MM4, which is the 1.0850 psyche level. The daily stochastic does show this pair is overbought, however we have not crossed to the downside as of yet.

EUR/USD H4 chart

Price has opened above WPP; thus target may be between WM4 and WR2; the 21 and 55 ma's are sharply poised to the upside indicating bullish momentum; and price has continued to make a series of higher highs and lows, shown in black.

EUR/USD H1 chart

price is opening the day around the DS1-DM2 area, both bullish entry zones; as well as being role reversal resistance turned support, shown in green. The hourly stochastic is oversold with the potential to turn the upside. I will look for reasons to enter on m5 or m15 charts.

One thought on “EUR/USD daily long, 23rd march”

  1. Teboho Faro says:

    Thats also a inverse Head n Shoulders on daily chart. So technically nothing is bullish about the dollar. Apart from the fact that we are at resistance on this pair

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