My previous EUR/USD signal on 13th June was not triggered, as there was no bearish price action when the price first reached the resistance level identified at
, I said that if the price could get established above the resistance level at $1.0796 after the London open, say with two consecutive higher hourly closes, that will suggest a further upwards move is likely to happen, with the price likely to reach $1.0835 quite quickly.
The technical picture has become more bullish since then, with the US Dollar falling even as its yields are rising, and the Euro one of the strongest major currencies as expectations of the ECB’s rate hike path grow increasingly hawkish. the price has now got close to the big round number at $1.1000 which recently acted as an area of strong resistanceFor these reasons, I think either a long or short trade could be a good opportunity here today.
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