Short Term Long on EURUSD

I'm in a bit of a hurry today, but I wanted to share this idea with you all. We can see based on earlier predictions that the EURUSD is in consolidation, but that doesn't mean we can't make a short-term play.

Looking for the pair to bounce off its current position at the fib level and go up to at least 1.08. Interesting to note the strong S&R level at 1.08 as well. If it breaks through, we can see a much higher upside.

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Komentar:

There was a scare following Yellen's speech and the USD's subsequent rally, which caused this pair to dive to the next fib retracement level.

That said, previous market conditions seem to be returning to previous trends and so the structure is back on.