Dear EUR/USD Trading Signal Traders

The trading signals from last time (DAX and S&P500) have reached their primary price targets and have already made a strong correction- it might be a part of the profit taking before the end of the year or an imminent larger correction. That is not what matters at the moment, since our initial target has been reached. Once this has been accomplished, we need to move to a new trade that has a good imminent potential.

In my next trade, I am looking to go long EUR/USD. It is showing signs of a renewed bullish bias. The last two trading sessions have closed up the previous bearish candlestick. It is a three- candle bullish engulfing scenario in which we can find the seeds of a new leg up. The support level at 1.0800 did hold pretty nicely and now I will be looking for a long trade at around 1.0905. My stop would be placed just under the three-candle low at 1.0800. The primary target for this trade is at 1.1050. The next target (depending on price action is at 1.1200.

Happy Trading,
Colibri Trader

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