EUR/USD Trading Signal   15/June/2016

by: Colibri Trader

 

No rate hike! The EUR/USD did not move a lot after the FOMC meeting. The tone was more dovish than expected and we should be cautious. There are a few things that I have noticed regarding the EUR/USD pair.

 

 

  1. The pair is sitting just above a minor support level at 1.1200.
  2. The daily candle is an inside bar as indicated on the chart above
  3. The intraday charts (4Hour and 1Hour) are showing bullish signs

eur/usdAll in all I can see further gains for this pair. I will be looking to enter in a long position at 1.1260. My stop would be placed just under 1.1200. My first target is the level of 1.1300. My secondary price target is the level of 1.1400. Let’s see what the bulls have prepared for us. I hope there won’t be any bearish surprises.

Happy Trading,

Colibri Trader

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