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Questions to ask EUR/USD longs right now
Anyone reading this who has a keen interest in the EUR/USD right now and has been reading the updates here will doubtless know all the recent price action over the past week and more. The breakout above 1.1214 was what delivered the move to 1.1473 just last Friday. Well, since then it looks like the Euro has been consolidating the break and if you look right now you will see it has been edging back towards that 1.13 handle in recent trading. The first question to ask is about momentum. The second is where are Euro longs likely raise concern. Well, momentum has stalled, but that has not yet delivered any kind of meaningful reversal. The 1.1214 breakout level has not seriously been put to the test since it reached 1.1473, but that is not to rule out such a test, particularly it long Euro stops start to build close, or just below that level. The overall trend is positive though but as it often requires something of a clear-out, before the trend resumes. We shall just have to see how this pans out from here. The EUR/USD is right now at 1.1308
Market News
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