Mihai_Iacob

EurUsd- Pressure is lifted, 103 is very probable now

Long
FX:EURUSD   Euro / Dollar Américain
As I've written yesterday and on the 6Th of September, EurUsd seems ready for a correction.
Yesterday has been a volatile day for EurUsd which went above and under parity and finished the day with a Doji.
Looking at the 4h posted chart we can see that after an initial rise above parity, the pair fell strongly but found strong bids in 0.9930 and reversed strongly overnight, putting in a higher low on our chart.
At this moment EurUsd is trading just under the recent range's resistance and a break un seems very likely. In such an instance I expect the pair to accelerate its gains and rise to 1.03 zone resistance.
I expect parity to remain intact for the time being and dips should be bought in search of a good R: R considering a stop loss under yesterday's low and a target in mentioned resistance.


Best of luck!

Mihai Iacob


My Yesterday's analysis:


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