25 Mar 2015
EUR/USD:Structure short term still bullish - 2ndSkies
FXStreet (Bali) - Chris Capre, Founder at 2ndSkies, notes that the overall EUR/USD structure short term is still bullish while being inside a larger bear trend.
Key Quotes
For now, the overall structure ST is still bullish while being inside a larger bear trend, so making its way towards 1.08 would help the bear scenario.
If the market impulsively attacks the FOMC spike highs, then we may be set to breakout higher and attack 1.11 and 1.1166 to start a new bull trend.
A daily close above 1.11 and 1.1166 creates a MT bull trend change while pushing below 1.08 puts 1.0630 under attack.
Key Quotes
For now, the overall structure ST is still bullish while being inside a larger bear trend, so making its way towards 1.08 would help the bear scenario.
If the market impulsively attacks the FOMC spike highs, then we may be set to breakout higher and attack 1.11 and 1.1166 to start a new bull trend.
A daily close above 1.11 and 1.1166 creates a MT bull trend change while pushing below 1.08 puts 1.0630 under attack.